Apple Becomes The First Company To Be Worth US $3 trillion

Apple got off to a strong start in 2022.

The American tech giant became the first company to achieve a stock market valuation of $ 3 trillion.

The figure exceeds the joint GDP of the largest economies in Latin America.

According to the figures published by the World Bank, the sum of goods and services produced in Brazil in 2020 was US $ 1.43 trillion, that of Mexico stands at US $ 1.08 million followed by Argentina with US $ 388,000 million.

The sum of these 3 GDPs amounts to approximately US $ 2.89 trillion, less than Apple’s value on the stock market.

And it is that the price of the shares of the firm has increased by around 5,800% since the co-founder and former CEO Steve Jobs introduced the first iPhone in 2007.

The company reached the milestone during Monday’s trading session on the New York Stock Exchange , although the price ended the day falling slightly to leave the market value at US $ 2.99 trillion.

Winner in the pandemic

Experts believe that Apple has been one of the big winners of the pandemic, as the lockdowns imposed to curb the coronavirus led users to increase spending on devices.

“Hitting $ 3 trillion is another historic moment for Apple as the company continues to prove the skeptics wrong,” said Dan Ives, an analyst at Wedbush .

It took Apple’s stock valuation just over 16 months to rise from $ 2 trillion to $ 3 trillion as the world’s largest tech companies saw demand skyrocket as people became more dependent on phones. smart phones, tablets and laptops during lockdowns.

The company became the first company to achieve a stock valuation of US $ 1 trillion in August 2018.

The iPhone generally accounts for about half of the company’s sales , which is also known for its iPad tablets and Mac computers.

But little by little the software division – which is sold through the Apple store – storage space through iCloud and services such as its music, television and fitness subscription platforms, have been gaining weight within the business.

“The lynchpin of Apple’s valuation continues to be its services business, which we believe is worth $ 1.5 trillion,” Ives said.

Last August, Apple CEO Tim Cook received more than five million shares of the company, upon completing ten years in office.

A company filing with the U.S. Securities and Exchange Commission revealed that Cook sold the majority of those shares with a value that exceeded 750 million .

  • Apple’s new business model to not depend only on iPhone sales

That payment was included in the deal he made when he replaced co-founder Steve Jobs.

The bonus depended on how well Apple’s stock had performed compared to other firms on the S&P 500 stock index.

Apple, based in Cupertino, California, was founded in 1976 by Steve Jobs and his business partners Steve Wozniak and Ronald Wayne.

The company made its debut on the stock market in 1980 with a market valuation of $ 1.8 billion.

In November, the original Apple computer built by Wozniak and Jobs sold for $ 400,000 at auction in the United States.

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