Apple’s stock market value tops $3 trillion

Apple's stock market value tops $3 trillion

Apple’s stock market value tops $3 trillion

Apple Inc.’s stock-market value briefly rose above $3 trillion on Monday, shattering yet another record and underscoring how the pandemic has turbocharged Big Tech’s decades-long rise.

The firm’s share price has risen by around 5,800% since co-founder and former chief executive Steve Jobs unveiled the first iPhone in 2007.

The milestone is mostly symbolic but it represents investor recognition of Apple’s success over the past few years as the company has reported several record-breaking quarters of big growth in all of its product lines.

Apple became the first publicly traded U.S. company to hit a $1 trillion market cap during intraday trading on Aug. 2, 2018. It hit a $2 trillion valuation just over two years later on Aug. 19, 2020.

Cupertino, California-based Apple was founded in 1976 by Steve Jobs and his business partners Steve Wozniak and Ronald Wayne.