Apple is the first company to reach $3 trillion market value

On Monday, Apple Inc became the world’s first publicly traded company to reach a $3 trillion stock market valuation.

On the first trading day of 2022, Apple’s shares hit a record high of $182.88, placing the technology company’s market value above $3 trillion. The stock closed at $182.01.

With the new valuation, Apple accounts for almost 7 percent of the total value of S&P 500 and makes up around 3.3 percent of the value of all global stock markets, according to analyst Howard Silverblatt.

The $3 trillion valuation is larger than the GDP of Britain and India and is worth more than all of the world’s cryptocurrency combined.

Apple’s shares have increased around 5,800 percent since Steve Jobs revealed the first iPhone in 2007, when the company was worth $73.4 billion.

This week’s milestone comes two years after the company’s market cap hit $2 trillion. Two years before that, in August 2018, Apple became the first American company ever to be valued at $1 trillion.

The record number signals investor confidence in the brand. Investors are betting that consumers will continue to buy Apple’s products, such as iPhones, Apple Watches, and MacBooks, and services like Apple TV, Apple Music, and the App Store.

Apple’s annual growth increased in the fourth quarter across all of its products. The company’s revenue grew 29 percent year-over-year.