At 1:45 PM Eastern Time on Monday, Apple’s (AAPL) share price hit $182.86, giving the tech giant the first-ever $3 trillion market valuation.
More Details🧐 Although AAPL closed Monday’s trading session at $182.01/share giving it a market cap of $2.99 trillion *only*, the hype behind the $3 trillion mark is mostly a symbolic representation of Apple’s success. Since announcing the first iPhone in 2007, AAPL rose about 5,800%. The company also managed to triple its valuation in less than four years, after hitting the $1 trillion-market cap milestone back in August of 2018.
Why is this Important🤔 Apple has been one of the big winners of the pandemic, as COVID lockdowns saw demand for gadgets jump. Despite this mind-numbing valuation, experts still see AAPL growing faster than the U.S. economy.
