In the world of business, the ultimate scoreboard is a company’s valuation, and Apple stands alone as it sits on the precipice of a huge milestone.
The Silicon Valley tech giant is on the verge of topping $3 trillion in market cap, the first and only company in the world to be even close to that marker.
On Monday, Apple stock was up 1% in early trading and was sitting at $181.75. Once the stock hits $182.85, that will allow Apple to surpass the $3 trillion mark.
The growth of Apple in the past few years has been staggering. It went over $1 trillion in August 2018 and hit the $2 trillion pedestal less then a year and a half ago.
Owners of Apple stock know how well it’s performed this year. Shares are up over 35% in 2021.
On top of the old standby’s like iPhones, Apple Music, iCloud, and the App Store, Apple TV+ has helped boost the company’s value as they continue to roll out new content.
Sales in 2021 are at an all-time high, with the last quarter bringing in $83 billion, 30% more than the same quarter the year previous.
Keep in mind; Apple is doing all this while dealing with the same supply chain issues every other company has had to endure. Tim Cook told investors in October that the slowdown at the ports cost the company roughly $6 billion.
The following two most valuable companies behind Apple are Microsoft, worth around $2.6 trillion, and Alphabet, which is sitting at roughly $2 trillion.
Oh, Apple has been saving for a rainy day or two as well. The company is sitting on about $191 billion in cash.
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