The world’s first!Apple’s market cap hits $3 trillion

Apple’s stock price reached a high of $182.88 in intraday trading ON Monday, and its total market value exceeded the $3 trillion mark for the first time, becoming the first company in history to reach this milestone. Notably, in the just-ended 2021, Apple stock is up 34% for all of 2021.

In less than four years, Apple has tripled its market value, and the company’s fourth-quarter earnings report showed annual growth across all of its product categories, with revenue up 29 percent year-over-year. The iPhone remains Apple’s biggest sales driver, and Apple’s services business grew 25.6 percent year over year to over $18 billion in revenue for the quarter. TF International analyst Ming-Chi Kuo said in a Monday report that Apple sold 27 million pairs of the latest AirPods during the holiday season, driving a 20 percent year-over-year growth in the wearables business in the quarter.

In addition, Morgan Stanley analyst Katy Huberty expects Apple’s fiscal 2022 Q1 results to be higher than expected. Data shows Apple’s parts supply is improving and iPhone production will “steady” at 82 million units in the December quarter, Huberty said. In addition, Apple’s supply of power management ICs and camera modules has also improved.

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