Apple Inc.’s stock-market value briefly rose above $3 trillion earlier today, shattering yet another record.
Apple shares rose as much as 3% to trade at $182.88 in afternoon trading in New York before paring some of its gains. Since a low hit in early October, Apple has added about $700 billion to its market capitalization.
The iPhone maker’s share price has marched steadily higher for years, leaving it up more than 200% since Covid first sent the world into lockdown in early 2020 and underlined the centrality of technology for work, education, entertainment, and keeping connected.
These are all markets that Apple touches on deeply through its hardware, software, and media services, and that has contributed to it becoming the first company in history to hit $3 trillion, roughly 17 months after it first crossed the $2 trillion mark.
Ever since it first became the world’s most valuable stock in 2011 — when its market cap was under $340 billion — Apple has rarely been far from the title.
It briefly fell behind Microsoft Corp. in October, after warning about short supply, though that second-place status was short-lived.