This January 3, Apple, the company founded by Steve Jobs, officially and for a brief period of time became the first company to be valued at $3 billion in the world.
To put that in context, if Apple were a country, it would be the fifth largest economy in the world, behind Germany, but ahead of the UK.
Apple’s stock price must cross $182.86 to sustain that valuation.
In August 2018, the iPhone maker became the first company to cross the $ 1 billion mark. Afterward it hit the $2 billion mark on August 20, 2020 .
As of this writing, Apple’s stock is trading at $ 182.01. This means that the company posted impressive profits of over 40% over the past year.
To boost sales, Apple CEO Tim Cook looked to expand to new products like AirPods and the Apple TV + streaming service. Since Cook took office after Steve Jobs’ resignation in 2011, the stock has risen 1,400% .
With Apple’s rapid rise over the past decade, many investors have come to view Apple’s stock as one of the safest bets on the market.
The other companies that have a valuation close to $ 3 billion are Microsoft, Alphabet, Amazon and Tesla. Microsoft is valued at $ 2.56 billion, while the other three companies are worth more than $ 1 billion.
In Apple’s most recent quarter, the company posted revenue of $84 million, up 29% from the same period last year. Also iPhone sales increased 47% during that period.
In 2022, Apple shares are expected to rise even higher due to the launch of augmented and virtual reality devices.
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