Apple started the year right with a stock market high on the first day of trading for 2022.
According to Reuters, the stock market value for Apple hit $3 trillion USD (roughly $3.8 trillion CAD), making it the first company to ever do so.
Shares hit a high of $182.88 USD (roughly $232 CAD). The $3 trillion milestone didn’t last long, as shares dropped to $182.01 (roughly $231 CAD) and the company closed the day with $2.99 trillion USD.
The article notes the company’s shares have risen 5,800 percent since Steve Jobs revealed the first iPhone in 2007. Investors are speculating Apple’s value will continue growing, as the company launches new products, and perhaps even enter new markets, such as automated vehicles.
Prior to reaching the new milestone, Apple was only one of two companies that had a value of $2 trillion USD. The other was Microsoft, which now has a value of $2.5 trillion.
Alphabet (the parent company of Google), Amazon, and Tesla are valued at more than $1 trillion USD.
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Source: Reuters
