The company’s shares rose to 182.88 dollars in the middle of the first trading day of the new year, a new record that brought the company’s market value to three trillion dollars. However, the stock ended the session up 2.5 percent to $182.01, bringing its market value down to $2.99 trillion.
Investors are betting that consumers will continue to buy iPhones, MacBooks and services such as Apple TV and Apple Music..
And it took 16 months for Apple to reach a market value of two trillion to three trillion dollars thanks to a sharp rise in its stock recently.
After its market value exceeded the three trillion dollar barrier, Apple left Microsoft alone in the trillion dollar club before returning to it at the end of trading, while Alphabet, which owns Google, Amazon and Tesla, crossed the trillion dollar barrier..
Microsoft, which currently has a market value of about $2.5 trillion, was the world’s most valuable company until late October when Apple reported that supply chain restrictions could affect its growth for the remainder of the year..
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