US multinational technology company, Apple Inc, crossed USD 3 trillion in market value as of Monday, making it the first company in the world to achieve such a milestone.
The company’s sales rose nearly 30% to over USD83 billion in its September quarter. Furthermore, Apple Inc. also generated USD 191 billion in cash flow during its third-quarter in 2021.
Apple has been able to increase its value as a result of the increase in demand for its most recent iPhone 13, and iPhone 13 pro max. It also offers additional subscription services, such as Apple Music, Apple TV +, iCloud, and App Store.
In addition, Apple shares rose about 3% to a new record high of USD 182.88, surpassing the USD 182.85 needed per share to reach USD 3 trillion in market value.
Over the past five years, Apple has consistently increased its investment in research and development, and it has recruited over 154,000 employees, or a 4% increase of new employees during the last 5 years, and Apple spokesperson said in a statement.
Apple’s market value first crossed USD 1,000 billion in August 2018 and reached $ 2,000 billion in August 2020, while its stock price rose nearly 35% in 2021.
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