Apple first company to hit $3 trillion market value
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Apple becomes the world's first company to hit $3 trillion with its services business believed to be worth $1.5 trillion.
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Apple stock has been trading with record highs over the past few weeks (9to5mac)
Apple has broken yet another record and has become the first company ever to break the $3 trillion, with Microsoft a likely second to follow suit.
Apple had reached the $1 trillion mark in 2018, becoming the first company to ever do so, and surpassed $2 trillion in 2020, meaning that it scored such an ascent in a very short time span.
The reason behind this sharp high in 2020 and 2021 is largely the pandemic, which sent people in an unsure economy toward stocks and investments that they know will remain secure.
On the first day of trading in 2022, the company's shares hit a record $182.88.
One of the reasons behind Apple's success is its Services business, which is believed to be worth almost $1.5 trillion.
Microsoft comes in second after Apple, as it is currently worth $2.53 trillion, while Alphabet (Google's parent company), Amazon.com Inc, and Meta (formerly Facebook) are all valued at above $1 trilllion.
