Apple Breaks $3T Market Capitalization Barrier 

Apple Stock

Apple made history Monday (Jan. 3) as the first U.S. company to hit a market capitalization of $3 trillion, tripling its valuation in less than four years. The tech giant’s achievement came when its stock price soared past $181.12 during the first day of 2022 trading, according to a CNBC report. 

The tech giant showed annual growth across its product categories as part of its fourth-quarter earnings report, with revenue up 29% year-over-year. Apple’s services business grew more than 25% from 2020 and generated more than $18 billion in revenue for the company in its most recent quarterly report, although the iPhone remains Apple’s biggest source of income. 

Morgan Stanley projected that Apple would ship 83 million units during the most recent quarter. The company still hasn’t incorporated virtual reality and augmented reality headsets into its suite of products. Apple sold 27 million pairs of its newest AirPods model during the holiday season, which generated 20% year-over-year growth for its wearables business in the quarter. 

Apple’s $3 trillion market capitalization comes less than four years after it became the first publicly traded U.S. company to hit $1 trillion in market cap Aug. 2, 2018. It hit a $2 trillion valuation on Aug. 19, 2020. 

Microsoft is worth about $2.5 trillion, Amazon has about a $1.75 trillion market cap and Google’s market valuation is closing in on $2 trillion. 

Apple stock rose 34% in 2021. 

Related: Apple Plans New 2022 Product Push After Lackluster 2021 

Meanwhile, Apple is promising new iPhones, AirPods and a potential VR headset this year. It will also have a new lineup of pro Macs, the biggest MacBook Air redesign in the product’s history and a new iPad Pro with wireless charging. 

The company will also release a 5G version of the iPhone SE and a new iPhone 14 range with a hole-punch-sized notch in the fall, as well as three new Apple Watches, including a new SE, a Series 8 and a version tailored for extreme sports enthusiasts. Apple could end up announcing a new VR headset this year as well after similar rumors in 2020 and 2021.