Apple Starts The Year As The First Company To Reach A Market Capitalization Of More Than $ 3 Bn

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The technology giant Apple has reached a new financial milestone on Monday, having temporarily registered a stock market valuation of more than three trillion dollars (2.656 billion euros), making it the only company in the world to have reached this milestone. During Monday’s session, the company’s share price reached 182.88 dollars, two cents above the 182.86 it needed to cross the three-trillion-dollar threshold. However, having reached that figure, the share price retreated slightly.

On August 19, 2020, Apple became the first listed U.S. company to reach $2 trillion (€1.8 trillion) in valuation. Before Apple, Saudi state-owned oil company Aramco had briefly managed to reach a valuation of $2 trillion on December 12, 2019, one day after its IPO, although it was not able to maintain that value afterwards.

By reaching $3 trillion, Apple would have tripled its value in just over three years, after the company first reached $1 trillion in capitalization on August 2, 2018, becoming the first company in more than a decade to do so, after PetroChina achieved a thirteen-digit capitalization following its debut on the Shanghai Stock Exchange in November 2007.

The Cupertino-based company debuted on the stock market on December 12, 1980 at a price of $22 per share and has since made five splits, so the IPO price adjusted for these splits would be $0.10.

Apple’s three trillion capitalization is equivalent to approximately 2.5 times the Gross Domestic Product of Spain, which in 2020, the latest annual figure on record, was 1,121,948 million euros. But the figure is also similar to the GDP of the United Kingdom, the sixth largest economy globally.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.