Apple has reached yet another major milestone. The iPhone maker topped a market value of $3 trillion Monday — the first publicly-traded company ever to be worth that much.
Shares of Apple were briefly up about 3% to a new all-time high of $182.88, surpassing the $182.85 per share it needed to be worth $3 trillion. The stock later pulled back from that level. Apple's market value first crossed the $1 trillion threshold in August 2018 and passed $2 trillion in August 2020.These 5 stocks are driving the marketApple shares were up nearly 35% in 2021.
The company has benefited from booming demand for its new IPhone 13 and other older models as well as subscription services such as Apple Music, Apple TV+, iCloud and its popular App Store.Sales surged nearly 30% to more than $83 billion in Apple's fall quarter, which ended in September. The company has a whopping $191 billion in cash as well.Read MoreBut before long, Apple may have some company in the $3 trillion club. Microsoft is now worth about $2.
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