Apple crosses record 3 trillion dollars market cap

Shortly after hitting the $3-trillion milestone late on Monday, the market cap dipped again a bit during the day. The Apple stock closed at $182.01.

The market cap of Apple finally crossed the $3-trillion mark, more than a year after surpassing the $2-trillion mark.
Shortly after hitting the $3-trillion milestone late on Monday, the market cap dipped again a bit during the day. The Apple stock closed at $182.01.

In order to officially designate Apple as the first publicly-traded company to have the $3-trillion valuation, the market cap must be above the $3-trillion mark when the market closes after the day’s trade, reports The Verge.

Apple surpassed the $1-trillion mark three years ago.

The momentous growth has come owing to the success of iPhones and other products despite supply constraints.

In India, Apple doubled its India market share in its fiscal year that ended on September 30, 2021, according to CEO Tim Cook.

Apple estimated that supply constraints had around a $6 billion revenue dollar impact driven primarily by industry-wide silicon shortages and Covid-related manufacturing disruptions.

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