Before slipping, Apple touches coveted $3 trillion market cap, World News

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Apple seems to be on cloud nine as the company briefly crossed the $3-trillion milestone in terms of the market cap on Monday.  

Although several companies and countries are witnessing a slump, some technology-based firms are ruling the roost.  

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After hitting the latest milestone, the market cap dipped again slightly during the day. The Apple stock finally closed at $182.01.  

The company had surpassed the $2-trillion mark more than a year ago. It had crossed $1-trillion around three years ago.  

To get officially designated as the first publicly-traded company to have $3-trillion valuation, the market cap should have been above the $3-trillion mark at the closure of the market at the end of the day’s trade, reported The Verge.  

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The growth seems to have been witnessed due to the success of iPhones and other products despite numerous issues plagued by the coronavirus pandemic.  

During an earnings call with analysts in October, Apple CEO Tim Cook had said, “We have set an all-time record for Mac and quarterly records for iPhone, iPad, Wearables, Home and Accessories representing 30 per cent year-over-year growth in products.”  

The company had doubled its market share in India in fiscal year ending on September 30, 2021.  

(With inputs from agencies) 

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