Apple becomes the world's first company to be worth $3 trillion

Apple today became the world’s first company to achieve a $3 trillion market capitalization, which is the total value of all of the company’s outstanding shares. The milestone comes after Apple shares rose more than 40% last year.

Apple achieved an impressive feat as its stock price hit the $182.86 mark, just over 16 months after becoming a $2 trillion company. It's been less than three and a half years since Apple hit the $1 trillion mark.

Since the start of the pandemic, Apple has reported strong earnings results as demand for its products and services has been high as more people work, learn and connect with others from home. The company's revenue for the quarter is expected to be more than $118 billion, surpassing its all-time quarterly record of $111.4 billion set a year ago.

In a memo shared with employees when Apple hit the $1 trillion mark in 2018, Apple CEO Tim Cook said the achievement was "not the best measure of our success." Important Metrics," adding that "financial returns are simply the result of Apple innovating, putting our products and customers first, and staying true to our values."

"Reaching $3 trillion is another milestone for Apple. A historic moment as the company continues to prove doubters wrong about the resurgence of the Cupertino growth story," said Dan Ives, an analyst at Wedbush, which has a $200 price target on Apple.

Apple will build on its success in 2022 and is rumored to launch a slew of products, including at least five new Macs, a redesigned iPad Pro with wireless charging, and a rugged Apple Watch version, second-generation AirPods Pro, an AR/VR headset focusing on gaming, content consumption, and communications.

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