Apple on Monday became the world’s first $3 trillion company based on the total value of all of the company’s outstanding shares. Apple’s stock price has risen over 40% in the last year.
Apple hit the $3 trillion market cap when its stock price reached the $182.86 mark. The iPhone maker became a $2 trillion company 16 months ago, and less than three and a half years after it reached the $1 trillion mark.
Apple has continued to post strong earnings results since the start of the pandemic. The Cupertino firm’s products and services have been in high demand, thanks to the COVID-19 pandemic, as more people have been forced to work, learn, and connect with others from home.
The company is expected to report more than $118 billion in earnings in the current quarter, which will surpass the all-time quarterly record of $111.4 billion Apple set a year ago.
Apple’s sales should continue to grow in 2022, as it is expected to unveil new Macs, a redesigned iPad Pro, a “rugged” Apple Watch, second-generation AirPods, an AR/VR headset, and more during the year.