Apple Inc. market cap crossed the $3 trillion milestone on Monday, becoming the first firm to do so. This demonstrates investor confidence and interest in Apple’s market supply chain following its entry into the domains of driverless cars and virtual reality.
The tech titan broke this barrier during intraday trading on January 3, 2022, when it reached an intraday high of $182.88. At the end of the day, it was concluded with a 2.5 percent increase from the trading opening amount, bringing its intraday value to $182.01 and bringing its closing capitalization to $2.99 trillion dollars.
The world’s most valuable firm had previously became the first to achieve $1 trillion and $2 trillion in value. Apple Inc. and Microsoft Corp. currently control the $2 trillion market, while Tesla, Alphabet, and Amazon Inc. control the $1 trillion market.
The Pandemic Arose
Since the outbreak of the pandemic, investors have flocked to Apple Inc (AAPL), which had a 47 percent increase in revenue in the most recent quarter. However, the globe was experiencing a chip crisis at the same time, which had a significant impact on Apple’s development and supply chain. The investors have demonstrated their faith in the tech giant’s supply chain and their commitment to provide the finest service possible to customers.
Shift in Investor’s Investments
Another major reason for Apple Inc.’s increased confidence is that investors’ interests have shifted away from firms that provide economic development, such as Amazon, and toward companies that work in the domains of virtual reality, 5G, and artificial intelligence. Apple’s move into the same industries has also piqued the interest of investors to a large extent.
Future of Apple Inc. Market Cap
Apple Inc.’s biggest source of revenue is always the iPhone, but it also gets money from the Apple Tv, MacBooks, Apple Store, and Apple Music. Analysts expect that Apple will increase even more this quarter as a result of the record-breaking demand for the iPhone 13 and it’s market cap may even reach the $200 milestone this year.