The technology giant is the first company to achieve a market capitalization of $ 3 trillion. What do his closest competitors look like?
It took just 17 months for Apple Inc’s stock market valuation to rise from $ 2 trillion to $ 3 trillion. Shares of the iPhone maker briefly hit $ 182.88 during trading on Monday – enough to secure Apple the coveted crown of becoming the first publicly traded company on the planet to launch the $ 3 trillion market capitalization mark.
Market capitalization or “market capitalization” is a measure of a company’s total market dollar value based on its share price, and is calculated by multiplying the total number of a company’s outstanding shares by the current market price of one share.
If Apple were a country
Since January 2007, when the late Apple co-founder and CEO Steve Jobs unveiled the first iPhone, shares of the Silicon Valley giant have risen 5,800 percent.
Hitting $ 3 trillion is another historic moment for Apple. To put this in perspective, Apple’s value now exceeds the nominal gross domestic product (GDP) of six of the world’s top 10 economies, including the United Kingdom ($ 2.71 trillion), India ($ 2.62 trillion), France ($ 2.60 trillion) , Italy ($ 1.89 trillion), Canada ($ 1.64 trillion) and South Korea ($ 1.63 trillion).
How Apple Grew Up (2001-22)
Apple’s rise has been relentless over the past year. In August 2018, it became the first US firm to exceed $ 1 trillion in market value. It blew past the $ 2 trillion mark only two years later in August 2020.
Apple is now at the top of the pyramid among all global companies by market capitalization, followed by Microsoft ($ 2.52 trillion), Alphabet ($ 1.92 trillion) then Saudi Aramco ($ 1.91 trillion) as a non-technology company in fourth place.