Apple Singapore | Image: FUTURE

Apple Becomes First Company to Cross USD$3 Trillion Market Cap

In a feat of epic proportions, Apple’s market cap recently breached the USD$3 trillion mark, making it the world’s most valuable company in history and reaffirming the unwavering confidence of investors in its products and future prospects. On Friday last week, the company’s shares experienced a significant rise of approximately 2.31 per cent to USD$193.97 (AUD$290.67), setting a new record high. While Apple initially reached a USD$3 trillion market cap in January last year, it was unable to sustain that level at the time. However, this year has seen Apple’s stock soar by an impressive 46%.

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Apple Singapore | Image: Kentaro Toma
Apple Singapore | Image: Kentaro Toma

Despite a decline in revenue and profits, Apple continues to impress with its second-quarter performance, particularly in iPhone sales, surpassing expectations in an uncertain economy and further underscoring its financial strength. Moreover, the introduction of new and innovative products, like the Vision Pro augmented-reality headset in June, has further highlighted the tech giant’s ability to adapt and innovate. The company’s consistent track record of implementing stock buybacks has also reinforced its reputation as a safe investment during a time of global economic tension.

“It’s a testament to one of the greatest publicly traded companies that have ever existed,” Art Hogan, chief market strategist at B Riley Wealth said, via Reuters. “It continues to grow and diversify its revenue streams, has shareholder-friendly management, buys back shares, throws off a dividend and has a fortress balance sheet with strong and defendable cash flows.”

Apple Singapore | Image: Zhiyue
Apple Singapore | Image: Zhiyue

Apple’s dominance in the corporate world is nothing short of extraordinary, with an astronomical valuation that surpasses the competition by a jaw-dropping margin. With this remarkable feat, Apple has surged ahead with a massive lead of nearly USD $500 billion over its closest competitor, Microsoft.

The trillion-dollar club, which Apple leads, also includes other industry titans such as Saudi Aramco with a valuation of USD $2.1 trillion, Alphabet at USD $1.5 trillion, Amazon at USD $1.3 trillion, and Nvidia at USD $1 trillion.

Apple’s staggering USD $3 trillion market capitalization puts it in a league of its own. To put that massively large number into perspective, Apple’s current market cap surpasses the annual gross domestic product (GDP) of entire countries like Brazil, Canada, and Italy. It also outstrips the projected costs of NASA’s numerous ambitious space exploration missions, including the Artemis program, which aims to return humans to the Moon by 2024 and establish a sustainable presence there.

In hindsight, purchasing Apple stock at its IPO price in December 1980 would have yielded remarkable returns. Accounting for stock splits, that initial investment would have skyrocketed, turning mere thousands of dollars into a mind-boggling fortune of millions, or quite possibly billions.


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Shubhendu Vatsa
Contributor

Shubhendu Vatsa

Shubhendu Vatsa is an experienced reporter specialising in video game, eSports and technology coverage. A BTech IT graduate, Shubhendu has previously written for entertainment-based publications such as GiveMeSport, Touch, Tap, Play, Attack of the Fanboy, EssentiallySports, Twinfinite and The Load Out.