Apple reigning champion over the stock market

Apple Store, Bangkok. © iStock.

Apple became the first publicly traded company to be worth more than $ 3 trillion, reports the New York Times, a colossal sum that roughly matches the gross domestic product of Great Britain or India. The news comes less than two years after the company was the first to reach a market valuation of $ 2 trillion. The company is worth more than Walmart, Disney, Netflix, Nike, Exxon Mobil, Coca-Cola, Comcast, Morgan Stanley, McDonald’s, AT&T, Goldman Sachs, Boeing, IBM and Ford combined. Apple now accounts for nearly 7% of the total value of the S&P 500, breaking the 6.4% record set in 1984 by IBM. When Apple unveiled the iPhone in January 2007, the company was “only” worth $ 73.4 billion.

Apple briefly lost its title of the world’s most valuable company to Microsoft in late October. However, it retrieved its crown thanks to a very strong recovery in November. It then shot forward through the rest of 2021 and has added $ 500 billion to its market value since November 15.

⇨ New York Times, Jack Nicas, “Apple becomes first company to hit $3 trillion market value.”

2022-01-03