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Apple becomes 1st company with $US3 Trillion market value

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Apple is the first company with a $US3 trillion stock market value, lifted by investor confidence that the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality.

Axar.az reports citing foreign media that on the first day of trading in 2022, the Silicon Valley company's shares hit a record high of $US182.88 ($NZ269.50), putting Apple's market value just above $3 trillion. The stock ended the session up 2.5 percent at $182.01, with Apple's market capitalisation at $2.99 trillion.

The world's most valuable company reached the milestone as investors bet that consumers will continue to shell out top dollar for iPhones, MacBooks and services such as Apple TV and Apple Music.

"It's a fantastic accomplishment and certainly worthy to be celebrated," said Jake Dollarhide, chief executive of Longbow Asset Management in Tulsa, Oklahoma.

Date
2022.01.04 / 11:32
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Axar.az
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