On Friday, Apple hits $3 trillion market cap for the first time ever.
Apple became the first company in January 2022 to hit the $3 trillion market cap but couldn’t make the level when the market closed. However, this is the first time Apple crossed the $3 trillion valuation to end the day.
During the trading session on Friday, the shares of the company rose 2 percent to $193.77, giving it a market capitalization of $3.05 trillion.
Currently, four other U.S. companies have a valuation of more than $1 trillion – Alphabet Inc, Microsoft Corp, Amazon.com Inc and Nvidia Corp.
With projected annual revenue of $400 billion and income of $100 billion, Apple is now on track to achieve substantial growth, which could be accelerate further if the company’s’ recent product announcement among consumers take off.
The company recently launched its $3,499 Vision Pro headset into the company’s first ever virtual-and-augmented reality headset and also the company said that it is working in a lower cost version for masses.