Apple today became the world's first $3 trillion company, measured by market capitalization, the total value of all the company's outstanding shares.
After Apple's share price rose by over 40% in the last year, the company has now broken the new barrier of over $3 trillion. This impressive feat, which Apple achieved with a share price of $182.86, comes just 16 months after Apple broke the $2 trillion mark. Apple has posted strong profits since the start of the pandemic as its products and services are in high demand and as more people are working, learning and connecting from home. The company's revenue company is estimated to exceed $118 billion for the current quarter, surpassing the previous quarterly record of $111.4 billion set a year ago.
Will Apple introduce a brand new product category in 2022?
In a memo distributed to employees when Apple reached the $1 trillion mark in 2018, Apple CEO Tim Cook said that this achievement was "not the most important measure of our success," adding that "financial returns are simply the result of Apple innovating, putting our products and customers first, and always staying true to our values." Wedbush analyst Dan Ives commented on Apple's recent success:
Reaching the $3 trillion mark is another historic moment for Apple as the company continues to prove the doubters wrong about Cupertino's growth renaissance.
In 2022, Apple will build on its own success and is rumored to unveil a variety of products, including at least five new Macs, a redesigned iPad Pro with support for wireless charging, a rugged version of the Apple Watch, the second generation of AirPods Pro, an AR/VR headset focused on gaming, content consumption and communications, and much more. (Photo by thebigland88 / Bigstockphoto)
