Apple’s Market Value Hits Historic $3 Trillion Mark

Just 17 months after achieving a $2 trillion market value, Apple is now hovering around $3 trillion at the start of 2022.

Apple is the first public company in history to reach a $3 trillion market value as the iPhone giant’s stock climbed to nearly $183 per share on the first day of trading of 2022 on Monday. The news comes just 17 months after Apple became a $2 trillion company.

The Cupertino, Calif.-based company’s market capitalization, which is the total value of the company’s outstanding shares, stood at $3 trillion as of Monday afternoon as the company has bullish innovation plans in store for 2022 including new Macs, AirPods and a new augmented reality headset.

“Hitting $3 trillion is another watershed moment for Apple as the company continues to prove the doubters wrong with the renaissance of growth story playing out in Cupertino,” said Daniel Ives of investment firm Wedbush in a note to investors last month.

[Related: Apple Patches Major iPhone, iPad Vulnerability]

Apple has repeatedly reported solid financial earning results quarter after quarter since the global COVID-19 pandemic first hit in early 2020 as people across the globe began to communicate, work and learn more from home.

Apple’s stock has grown over 40 percent over the past 12 months.

This year, Apple’s wearables business is expected to take off thanks to the upcoming launch of its augmented reality headset as well as a new version of the AirPods Pro. For example, Apple sold a total of 90 million AirPods during the fourth quarter of 2021, according to a new report from TFI Asset Management Limited.

Additionally, demand for Apple’s new iPhone 13 is high, with iPhone revenue in its most recent quarter up 47 percent year over year.

Other innovations from Apple expected to launch this year include at least five new Macs and a rugged version of Apple Watch. Apple’s roadmap also includes the long-rumored Apple Car project.

As of 2:30 p.m. ET, Apple’s stock has slightly lowered to $181.89 per share with a market cap of $2.98 trillion. Apple’s $3 trillion market capitalization must be above $3 trillion when the market closes at 4p.m. today for it to officially be designated the first-ever company with that valuation.

In December, Apple delayed the date for workers to return to the office indefinitely as the COVID-19 pandemic shows no signs of going away. The company will offer each employee $1,000 bonuses for work-from-home needs. The company had previously planned to have employees back in the office in February.