Apple's Road to $3 Trillion
This article is published in collaboration with Statista
by Felix Richter
Apple became the first company to hit a market capitalization of $3 trillion last week, after its share price briefly climbed to $182.88 on Monday – enough to reach said milestone. Apple is the first company in the world ever to reach a market cap of $3 trillion after becoming the second to reach $2 trillion in August 2020. Saudi Arabian oil and gas giant Saudi Aramco had made the first ascent to $2 trillion in December 2019.
Despite the challenges posed by the coronavirus pandemic, Apple’s share price climbed by 34 percent in 2021, following an astonishing 81-percent surge in 2020. The entire tech industry has proven relatively immune to the negative impact of the Covid crisis, as lockdowns and physical distancing have made technology even more central to many people’s lives.
The following chart illustrates Apple’s unparalleled rise from a struggling $5-billion company in 2000 to world-beating powerhouse over the past 21 years, while also highlighting some of the most notable product launches along the way. While still flying high at the moment, the Cupertino-based company is also facing major headwinds in the form of antitrust probes and an ongoing legal battle over its App Store rules.
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