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Apple is about to become the world's first $3 trillion company
New York (CNN Business)Apple is on the verge of yet another major milestone. The iPhone maker is close to topping a market value of more than $3 trillion — the first publicly traded company ever to be worth that much.
Shares of Apple (AAPL) were up about 1% in premarket trading Monday to around $181.75. The stock needs to hit $182.85 for Apple to surpass the $3 trillion mark.
Apple's market value first crossed the $1 trillion threshold in August 2018 and passed $2 trillion in August 2020.
Apple shares are up more than 35% this year alone. The company has benefited from booming demand for its new IPhone 13 and other older models as well as subscription services such as Apple Music, Apple TV+, iCloud and its popular App Store.
Sales surged nearly 30% to more than $83 billion in Apple's most recent quarter, which ended in September. The company has a whopping $191 billion in cash as well.
But before long, Apple may have some company in the $3 trillion club. Microsoft (MSFT) is now worth about $2.6 trillion and Google owner Alphabet's (GOOGL) market value is right around $2 trillion. Still giant but further behind are Amazon (AMZN), which has a market cap of $1.7 trillion, and Elon Musk's Tesla (TSLA), worth $1 trillion.
edition.cnn.com
New York (CNN Business)Apple is on the verge of yet another major milestone. The iPhone maker is close to topping a market value of more than $3 trillion — the first publicly traded company ever to be worth that much.
Shares of Apple (AAPL) were up about 1% in premarket trading Monday to around $181.75. The stock needs to hit $182.85 for Apple to surpass the $3 trillion mark.
Apple's market value first crossed the $1 trillion threshold in August 2018 and passed $2 trillion in August 2020.
Apple shares are up more than 35% this year alone. The company has benefited from booming demand for its new IPhone 13 and other older models as well as subscription services such as Apple Music, Apple TV+, iCloud and its popular App Store.
Sales surged nearly 30% to more than $83 billion in Apple's most recent quarter, which ended in September. The company has a whopping $191 billion in cash as well.
But before long, Apple may have some company in the $3 trillion club. Microsoft (MSFT) is now worth about $2.6 trillion and Google owner Alphabet's (GOOGL) market value is right around $2 trillion. Still giant but further behind are Amazon (AMZN), which has a market cap of $1.7 trillion, and Elon Musk's Tesla (TSLA), worth $1 trillion.
![edition.cnn.com](/proxy.php?image=https%3A%2F%2Fcdn.cnn.com%2Fcnnnext%2Fdam%2Fassets%2F211213080106-apple-headquarters-102821-file-restricted-super-tease.jpg&hash=f624a0f5c6189f9f98d4cf3228e0a8ab&return_error=1)
Apple is about to become the world's first $3 trillion company
Apple is on the verge of yet another major milestone. The iPhone maker is close to topping a market value of more than $3 trillion — the first publicly traded company ever to be worth that much.
![edition.cnn.com](/proxy.php?image=https%3A%2F%2Fcdn.cnn.com%2Fcnn%2F.e%2Fimg%2F3.0%2Fglobal%2Fmisc%2Fapple-touch-icon.png&hash=98f21d201d7a25d5577da1a5a5095f40&return_error=1)