​APPLE WILL BECOME THE FIRST $3 TRILLION COMPANY SOON

Apple is about ready to become the first $3 trillion company, making it the first publicly traded organization to be worth that much, multiple sources are reporting.​

Last week the tech giant’s share priced ended at record levels, with the company gaining 8% in December, at the close last Friday.  This brings Apple market cap to $2.94 trillion, Fox Business reported.

On Monday Apple shares were up roughly 1% in premarket trading at a price of $181.75, but never reached the price of $182.85 to break the $3 trillion threshold.  

The markets were down on Tuesday, with Apple faring better than most, but the stock is still getting closer as of 8:00 p.m. Eastern Tuesday,  it was sitting at $182.13.

Some interesting history on Apple is that it crossed the $1 trillion threshold in August of 2018 and the $2 trillion threshold in August of 2020. Apple shares have soared 35% in the last year as the company benefited from robust demand for the new iPhone 13 and subscription services like Apple Music and Apple TV+.​

Wedbush analyst Dan Ives said Apple’s upcoming milestone is a “watershed event,” adding that the “company continues to prove the doubters wrong with the renaissance of growth story playing out in Cupertino,” according to Fox Business.

Ives told Fox Business that iPhone sales far outpaced initial projections, with roughly 40 million phones sold during the holiday season despite supply chain disruptions and a growing global chip shortage. Ives also said demand looks strong heading into 2022, in the U.S. and Chinese markets, and he believes the company’s share price could reach between $200 and $225.

Ray Wang, founder and chairman of Constellation Research told Fox Business, “This is basically the iPhone factoring, the refresh of the Mac with the M1 chip, and all the other product derivatives that are coming, the services businesses that is on the backend, and then you can add potentially a car and potentially the glasses that are coming up.”

According to CNN, Microsoft is the only other company valued at over $2 trillion, as their current value is around $2.6 trillio

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