Apple became the first U.S. company to hit a market cap of US$3 trillion on Monday. Shares hit US$182.88 on the first day of trading in 2022.
Apple Hits US$3 Trillion Market Cap
Apple hit a market cap of US$2.5 trillion back in July 2021. The ongoing rise in values comes as analysts believe that demand for iPhone remain strong, including in the crucial Chinese market, as well growing subscriber numbers for its services, Reuters reported.
The AAPL share price later dropped, meaning its market cap fell below US$3 trillion.
[Updated: Headline fixed to read US$3 trillion not US$1 trillion and updated to reflect later drop in share price.)