Apple is the world's first 3 trillion company
Another big milestone has been reached by US tech giant Apple Inc. The market value of the company reached 3 trillion dollars on Monday. In this, Apple is at the top, surpassing all the business organizations in the world.
According to CNN, Apple's share price rose nearly 3 percent to reach an all-time high of 182.88 dollars. However, the market value of the company to reach 3 trillion dollars per share would have been 182.85 dollars. However, the stock later came down from the highest level.
In August 2018, Apple's market value crossed the first 1 trillion dollars. Two years later, in 2020, the company's market value exceeded 2 trillion.
Apple shares rose about 35 percent in 2021. In addition to the new iPhone 13 and other older models, Apple has benefited greatly from the growing demand for subscription services such as Apple Music, Apple TV +, iCloud and its popular App Store.
Apple's quarterly sales rose nearly 30 percent to more than 83 billion at the end of September. In addition, the company has 191 billion in cash.
Apple is another tech giant after Apple in terms of market price. Microsoft's current market value is about two and a half trillion dollars. Google's parent company Alphabet has a market capitalization of 2 trillion dollars. In addition, Amazon has a market value of 1.7 trillion dollars and Elon Musk's company Tesla has a market value of about 1.2 trillion dollars.