Apple Is About to Make Stock Market History With a Record-Breaking Market Cap

The company could hit its historic market cap as soon as this week.

learn more about Chloe Arrojado

By Chloe Arrojado

AaronP/Bauer-Griffin | Getty Images

Apple was the first U.S. publicly-traded company to hit $1 trillion in 2018, and was the first U.S. company to hit $2 trillion in 2020. Now valued at $2.96 trillion, Apple is about to set another record by being the first company — in the U.S. and the world — to hit a $3 trillion market cap. Put into context, this milestone places it as the world's fifth-largest economy, after Germany.

"Apple does seem to be more immune to the ebb and flow of economic forces just because of this really strong brand. Its new product pipeline is pretty strong too," Hargreaves Lansdown analyst Susannah Streeter told Reuters.

Related: Marketing and Lead Generation Inspiration From Apple, the First Trillion-Dollar Company

There are several reasons why Apple has been growing strong despite "larger than expected supply constraints." Constellation Research founder Ray Wang told Fox Business that the refresh of the Mac with the M1 chip and the release of new products and potential new technology (like its car and glasses) are some of the factors steadily pushing its value to $3 trillion.

Apple isn't the only U.S. company in the trillion-dollar club. Rival Microsoft is at a relatively close second with a market cap of $2.5 trillion. Google and Amazon are short of a $2 trillion market cap, valued at $1.9 and $1.7 trillion respectively. Carmaker Tesla did manage to hit $1 trillion earlier this year, but its market cap is now down to $981.7 billion.

Related: How Apple CEO Tim Cook Avoids iPhone Addiction

Chloe Arrojado

Entrepreneur Staff

Editorial Assistant

Related Topics

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game
Business News

These Are the Most and Least Affordable Places to Retire in The U.S.

The Northeast and West Coast are the least affordable, while areas in the Mountain State region tend to be ideal for retirees on a budget.

Business News

A Mississippi News Anchor Is Under Fire for Quoting Snoop Dogg

WLBT's Barbara Bassett used the rapper's "fo shizzle" phrase during a live broadcast, causing the station to let her go.

Thought Leaders

The Collapse of Credit Suisse: A Cautionary Tale of Resistance to Hybrid Work

This cautionary tale serves as a reminder for business leaders to adapt to the changing world of work and prioritize their workforce's needs and preferences.