Apple briefly became a $3 trillion company yesterday, making it the first company to ever do so.
The news came after the company’s stock price reached $182.86 and comes less than 18 months after Apple reached the $2 trillion mark. Apple also reached the $1 trillion valuation less than four years ago.
Apple has seen its stock price rise more than 40% over the last year as it continues to post impressive quarterly financials. The company has also seen its services business grow to become a company unto itself, with some suggesting that services alone are a $1.5 trillion offering.
Those services include Apple Music, Apple Arcade, iCloud, and Apple Fitness+ not to mention Apple TV+. Apple also offers Apple One, a subscription bundling option that brings multiple services under one roof.
Apple is likely to see its share price increase yet further with 2022 expected to be a big one in terms of product launches. Updated MacBook Air notebooks are in the cards, powered by a new M2 chip. A refreshed Apple silicon-powered Mac Pro is also likely, while a larger iMac will join the existing 24-inch M1-driven machine that is already on sale.
Apple is already forecasted to rake in revenue of more than $118 billion for the current quarter. Apple’s existing record quarter was $111.4 billion, a number set to be eclipsed sooner rather than later.