Apple became the first United States company worth $3 trillion on Monday, according to a report by The Guardian. At the time of writing, the total price of all the firm’s stock was valued at a little under, sitting at $2.99 trillion. The firm first reached the $1 trillion mark in 2018 and the pandemic has given it, and other tech stocks, a boost due to the increase of working from home.
Over 2021, Apple’s market cap grew by almost $1 trillion and Microsoft’s grew at a similar pace. As of the fourth quarter, Microsoft sits at $2.5 trillion so it might not be long now until it passes the $3 trillion mark too. While Apple will no doubt be pleased with its stock price, they also benefit people who have pension pots or other savings linked to stocks as the value of the pot will likely have gone up.
According to The Guardian, Apple is now more valuable than a whole host of household names combined including Boeing, Coca-Cola, Disney, Exxon-Mobil, McDonald’s, Netflix, and Walmart. In October, the firm reported quarterly profits of $20.6 billion and that’s despite the supply chain issues going on around the world. Reports like that only add to confidence in the firm and boost its stock price.
As the world continues to tackle the coronavirus pandemic, it will be interesting to see what happens to the price of these tech stocks as more people return to the office. They were doing well before the pandemic but a return to normality may affect the speed of the stock price increases.
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