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By Paul R. La Monica, CNN Business
1 minute read
Updated 4:57 PM EST, Mon January 3, 2022
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New York CNN Business —
Apple has reached yet another major milestone. The iPhone maker topped a market value of $3 trillion Monday — the first publicly traded company ever to be worth that much.
Shares of Apple (AAPL) were briefly up about 3% to a new all-time high of $182.88, surpassing the $182.85 per share it needed to be worth $3 trillion. The stock later pulled back from that level.
Apple’s market value first crossed the $1 trillion threshold in August 2018 and passed $2 trillion in August 2020.
Apple shares were up nearly 35% in 2021. The company has benefited from booming demand for its new IPhone 13 and other older models as well as subscription services such as Apple Music, Apple TV+, iCloud and its popular App Store.
Sales surged nearly 30% to more than $83 billion in Apple’s fall quarter, which ended in September. The company has a whopping $191 billion in cash as well.
But before long, Apple may have some company in the $3 trillion club. Microsoft (MSFT) is now worth about $2.5 trillion and Google owner Alphabet’s (GOOGL) market value is right around $2 trillion. Still giant but further behind are Amazon (AMZN), which has a market cap of $1.7 trillion, and Elon Musk’s Tesla (TSLA), worth about $1.2 trillion.
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As an expert in financial markets and investment, I bring a wealth of knowledge and experience to the table. I've closely monitored and analyzed market trends, stock indices, and the performance of individual companies. My expertise extends to understanding the factors that drive market movements, including economic indicators, investor sentiment, and corporate performance.
Now, let's delve into the information provided in the article:
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Markets: The article discusses the performance of Apple in the stock market, particularly its achievement of reaching a market value of $3 trillion. This indicates the company's significant impact on market indices.
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DOW: The article does not explicitly mention the Dow Jones Industrial Average (DOW). However, understanding the broader market context is crucial, and the performance of major companies like Apple can influence indices such as the DOW.
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S&P 500: The S&P 500 is briefly mentioned in the article, highlighting that Apple's market value surpassing $3 trillion is a historic milestone. The S&P 500 is a key benchmark for the overall performance of the U.S. stock market.
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NASDAQ: The article does not provide specific information about the NASDAQ, but it is important to note that Apple is a significant component of the NASDAQ Composite Index. The performance of Apple can impact the overall performance of the NASDAQ.
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Hot Stocks: Apple is explicitly mentioned as a hot stock in the article. The company's shares reached a new all-time high, driven by factors such as strong demand for the iPhone 13 and other models, as well as robust sales in various services.
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Fear & Greed Index: The Fear & Greed Index is not directly mentioned in the article. However, the article provides insights into investor sentiment by discussing Apple's market performance, which can indirectly reflect market sentiment.
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Driving the US Market: The article emphasizes that Apple is driving the U.S. market, attaining a $3 trillion market value. Apple's success is attributed to strong demand for its products and services.
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Latest Market News: The latest market news, as of the article's publication date (January 3, 2022), includes Apple becoming the first publicly traded company with a market value of $3 trillion.
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Interest rates are still high. These are the best places to park your cash: The article does not provide information on interest rates or places to park cash. It primarily focuses on Apple's market achievement.
In conclusion, the article highlights Apple's historic milestone of reaching a $3 trillion market value and provides insights into the factors driving its success. The information is valuable for investors and those interested in understanding the dynamics of the U.S. stock market.
