January 04, 2022 20:02 PM
On the first trading day of 2022, Apple’s stock price rose to $182.88 in midday trading, a record high
Apple on Monday became the world‘s first company with a market capitalization of over US$3 trillion, thanks to investors’ confidence in its continued launch of best-selling products. Apple has begun to explore new markets such as self-driving cars and Metaverse.
On the first trading day of 2022, Apple’s stock price rose to $182.88 in midday trading, a record high.
It took about 16 months for Apple’s market value to rise from US$2 trillion to US$3 trillion. Its stock price has soared, leading a group of technology giants that benefited from people’s heavy reliance on technology during the pandemic.
Since co-founder and former chief executive Steve Jobs released the first iPhone in January 2007, Apple’s stock price has soared by about 5800%, far outpacing the S&P 500’s 230% increase over the same period. Apple’s current weight in the S&P 500 Index is about 7%, returning to the level it started in 2021, which was 5% in June.
Apple is the first company to reach this milestone, and investors are betting that consumers will continue to buy services such as iPhone, MacBook, and Apple TV and Apple Music.
Apple is currently the world‘s most valuable company. In the past three years, both Microsoft MSFT.O and Amazon briefly surpassed Apple. The market value of Microsoft is currently approximately US$2.5 trillion, Amazon’s market value is approximately US$1.7 trillion, and Alphabet’s market value is US$1.9 trillion.
Analysts predict that demand for the iPhone will remain strong in 2022, because Apple has a leading low in the Chinese smartphone market and more and more consumers subscribe to its services.
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