On the first day of trading in 2022, Apple‘s stock (AAPL) price continued its rapid increase, making it the first publicly traded business in the world to be valued at $3 trillion.
After briefly passing the $2.9 trillion threshold in afternoon trade, the company’s market value fell to around $2.9 trillion as its stock price is down. The value of Apple’s stock has tripled since the end of 2017, and it is expected to cross $2 trillion by 2020. In August 2018, it became the world’s first $1 trillion company.
After succeeding late company founder Steve Jobs, Tim Cook has increased Apple’s market worth by about $2.7 trillion in a decade. Apple’s stock price has risen by about 500 percent in the last five years, outpacing the S&P 500, which has risen by approximately 105%.
iPhone sales increased by 47 percent to $38.9 billion in fiscal Q4 2021 (25 June to 25 September), while total company net income increased by 62 percent to $20.5 billion.