Apple becomes world’s first $3 trillion tech company

A little over three years ago, Apple investors pushed the value of its shares above $1 trillion, making it the world’s most highly valued tech company.

Then, two years later, Apple stock rose so high that the company’s value passed $2 trillion. Now, it’s risen yet again, topping $3 trillion. As in $3,000,000,000,000.

Around 10:45 a.m. on Monday, Jan. 3, Apple stock hit $182.86 per share, which when multiplied by the 16.4 billion shares outstanding, values Apple at about $3 trillion.

That’s more than the value of AT&T, Boeing, Coca-Cola, Comcast, Disney, Exxon, Ford, Goldman Sachs, IBM, McDonald’s, Morgan Stanley, Netflix, Nike, and Walmart — combined. The largely symbolic milestone comes as Apple’s struggled to keep up with near-record demand for its devices amid the pandemic.

In October, the tech giant warned investors that it was struggling with supply chain disruptions amid the coronavirus pandemic, which at the time amounted to as much as $6 billion in lost revenue.

“We are optimistic about the future, especially as we see strong demand for new products,” Apple CEO Tim Cook told analysts on a conference call back then.

The inventor of the iPhone, iPad, iPod music player, and Mac computer nearly went bankrupt two decades ago. Now, it’s the world’s most highly valued.

The post Apple becomes world’s first $3 trillion tech company appeared first on The Khaama Press News Agency.

Source: The Khaama Press News Agency

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