On the 3rd January 2022, tech giant Apple passed the $3 trillion milestone. This comes a year after the company surpassed the $2 trillion mark, and three years after hitting $1 trillion.
Not long after Apple peaked the horizons of the $3 trillion milestone, the company’s market cap dipped below it again. In order for Apple to officially be designated as the first publicly-traded company with a valuation exceeding $3 trillion, the company’s market cap must be above the $3 trillion mark when the market closes at 4PM ET.
The iPhone – Apple’s Cash Cow
Apple’s massive success is largely due to the iPhone – a device that has become synonymous with revolutionising the smartphone industry.
Although the iPhone remains a cash cow for the company, Apple continues to see strong success and forward momentum in its other businesses; its services and Mac devices reported all-time highs in Apple’s Q4 2021 earnings.
The Trillion Dollar Club
Apple is not the only company in the trillion dollar club. Other companies that all have market caps exceeding $1 trillion are: Amazon, Alphabet, Microsoft and Tesla. In June 2021, Meta briefly touched on the $1 trillion milestone but currently sits below it.
