Apple started this new year with a new record – by reaching a market valuation of $3 trillion! This feat was achieved by the company on Monday, having its share price traded in record heights.
Well, this moment was brief, as the company’s share had fallen soon after touching a peak point, thereby not recording this overall valuation at the end of the trading day. Experts say the sharp rise was due to the positive revenue Apple recorded in Q4 of 2021.
A Record Market Capitalization!
Apple, the iPhone maker has always been astonishing in terms of quarterly reports. While the company is just appreciated for overshadowing analysts’ expectations all the time, it now made a significant impact on investors’ confidence.
On Monday, Apple’s revelation of Q4 2021 numbers pushed the share price to a record new level, resulting in the booming of overall market valuation of the company to $3 trillion! This made Apple the first-ever company to breach so, but for a brief span!
This feat was achieved when Apple’s share was being traded at around $182 apiece, but that’s not the mark when the trading day ended. So, it had fallen slightly below the $3 trillion market cap, after touching the heights. Well, it’s still a record for now.
Apple has reached it’s trillion-dollar market cap in August 2018, and the next trillion-dollar capitalization in mid-2020. And now, it took the company just 16 months to attain yet another trillion dollars to its overall valuation.
Analysts said this feat could have been achieved a long ago if the company hadn’t faced any supply chain constraints. Yet, the Cupertino-based company added $83.4 billion in the last quarter of 2021, slightly below the market expectations.
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