Apple is now the first public company to be valued at $3 trillion

SAN FRANCISCO — Apple became the first publicly traded company to close a trading day with a $3 trillion market value, marking another milestone for a technology juggernaut that has reshaped society with a line-up of products that churn out eye-popping profits.

Although the significance of reaching a $3 trillion market value is largely symbolic, its magnitude is still breathtaking.the average sales price during the past year as calculated by Zillow It took Apple less than two years to close with a $3 trillion market value after topping $2 trillion for the first time in August 2021, which occurred about two years after the Cupertino, California, company reached $1 trillion for the first time.

The iPhone, unveiled by Jobs in 2007 with his hallmark showmanship, remains the crown jewel in Apple’s kingdom. Last year, the device accounted more than half of the company’s nearly $400 billion in sales.

Source: News Formal (newsformal.com)

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