The maker of the iPhone crossed the milestone briefly, the highest market capitalisation by a US company, on 3 January 2022 before dipping back down.
Apple team members greet the first customers at the grand opening of Apple Bağdat Caddesi, the company’s third retail location in Turkey. Image courtesy of Apple.
Apple was briefly valued at USD3 trillion on Monday, 3 January 2022, just over a year after the company first surpassed USD2 trillion in value and three years since it passed USD1 trillion.
Apple’s upwards trajectory is largely due to the iPhone; a product that has left a reverberating impact on mobile phones, and the smartphone industry in particular, since it was introduced in 2007. Revenues in the last quarter of 2021 were up 29 percent, with iPhone sales having increased 47 percent compared with 2020.
While the iPhone has been a huge money maker for the company, Apple has continued to maintain momentum by adding well received services to their portfolio and improving their products — notably by adding more privacy centric features to their products while also moving to custom “Apple Silicon” chips which has marked a significant jump in performances and customer satisfaction.
Things aren’t all rosy for the silicon valley giant however, as the company continues to contend with anti-trust probes related to practices surrounding the App-Store in some major markets, including at home is the US as well as in Europe and India.
In terms of valuation, Apple’s main rival Microsoft isn’t too far behind, valued at around USD2.6 trillion, with Google’s parent company Alphabet valued around USD2 trillion and Amazon at USD1.75 trillion. Tesla is valued around USD1.2 trillion while Samsung is valued around USD442.07 billion.
