Tech giant Apple Inc made history on Monday as the first company with a $3 trillion stock market value.
According to reports, on the first day of trading in 2022, the Silicon Valley company’s shares hit a record of $182.88 around mid-day.
Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma congratulated Apple for a fantastic achievement.
“It just shows you how far Apple has come, and how dominant it is seen as in the majority of investors’ eyes,” Dollarhide said.
Sources said at the moment, Apple is sharing the $2 trillion market value club with Microsoft Corp, which is now worth about $2.5 trillion.
Tech experts said one reason Apple is thriving is that it is quick to adopt 5G, a technology that has broad implications in the future.
Just recently, Apple launched iPhone 13 in its second wave of phones with 5G technology.
It was learned that in China, one of Apple’s biggest markets, it continued to lead the smartphone market for the second straight month, beating rivals such as Vivo and Xiaomi.
Moreover, the latest market trading data showed that Apple’s stock touched a record high of $182.88, putting its market value just above $3 trillion, based on about 16.4 billion outstanding shares.
The shares were last up 2.4% at $181.86.