Apple Becomes the First Company to Cross an M-cap of $3 Trillion Previously, it had briefly crossed the number on January 3rd in the intra-day trading before closing just below the mark.
By Paromita Gupta •
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Apple concluded the first half of 2023 with a bang. On June 30th (also a Friday), the iPhone maker was reported to have crossed a market capitalisation value of USD 3 trillion, making it the first public company in the world to ever do so.
Previously, it had briefly crossed the number on January 3rd in the intra-day trading before closing just below the mark. In fact, earlier this year, the market cap went below USD 2 trillion briefly amid the slowdown and investor retreat.
#Apple stock hits $3tn market value as new gadget releases loom. pic.twitter.com/QsAUkVjF7S
— Holger Zschaepitz (@Schuldensuehner) June 30, 2023
The second quarter reports of the tech giant, published on May 3rd, showed a revenue of $94.8 billion. "We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high," said Tim Cook, Apple's CEO in the report.
Their December 2022 report shared a revenue number of $117.2 billion. However, Apple has been soaring high with the announcement of its Vision Pro, an AR headset set to hit the market in 2024. At the time of publishing the article, Apple Inc had a market cap of USD 3.05 trillion, with shares closing at USD 193.97 on Friday.
At present, Microsoft is the second most valued at USD2.5 trillion, with the oil giant Saudi Aramco at USD2.08 trillion. Alphabet Inc, Amazon.com Inc and Nvidia Corp have a valuation of over USD 1 trillion.
