Cupertino’s Apple Inc becomes first $3 trillion company in market valuation

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Cupertino’s Apple Inc becomes first $3 trillion company in market valuation

On Monday, Apple Inc., the Cupertino, California-headquartered manufacturer of iPhones, had become the first-ever publicly listed entity to breach a $3 trillion market valuation, mostly spurred up by investors’ optimism that the iPhone manufacturer would continue to roll out high profit-margin products given its latest move to ditch out dependencies on outsourcers such as Intel Corp for chipmaking.

Apart from that, as Apple Inc has reportedly been exploring new options such as automated vehicles alongside virtual reality, investors’ optimism kept surging on new iPhones with US household wealth hovering at a record, mostly riding on the back of a number of pandemic-associated Government stimulus programs before and after the US November Presidential election.

Nevertheless, as Apple Inc. shares spiralled higher to reach a $3 trillion mark in market valuation for first time ever in first trading day of 2022, the world’s most valuable company had wrapped up the day’s Wall Street 2.50 per cent higher to $182.01 apiece.

Nonetheless, Apple Inc shares went through a four-to-one splitting on August 28, 2020 in a bid to make them more affordable for investors. So far, Apple Inc stocks had split five times, while Apple Inc shares surged as much as 5,800 per cent since inception of the first iPhone.

Apple Inc hits $3 trillion milestone

In what could be contemplated as an ardent landmark for Apple Inc., the Cupertino-based iPhone maker had hit a $3 trillion in market valuation over investors’ hope that the company would continue to tempt Americans to fork out top dollars for iPhones, MacBook alongside associated services like of Apple Music and Apple TV.

Meanwhile, addressing to the Apple’s latest landmark milestone, Chief Executive of Longbow Asset Management in Tulsa, Oklahoma, Jake Dollarhide said, “It's a fantastic accomplishment and certainly worthy to be celebrated.

It just shows you how far Apple has come, and how dominant it is seen as in the majority of investors' eyes”.