The price of Apple (AAPL) -1.27% share has increased around 5,800% since 2007, when the first iPhone was unveiled.
However, Monday’s trading session closed a little under this milestone, at $2.99tn.
“Hitting $3 trillion is another historical moment for Apple as the company continues to prove the doubters wrong”, said an analyst from Wedbush, Dan Ives.
In just over 16 months, Apple’s stock market value soared from $2tn to $3tn as demand for the world’s largest technology company skyrocketed due to people’s increasing reliance on smartphones, tablets, and laptops during lockdowns.
In August 2018, Apple became the first company that reached a $1tn stock market valuation.
About half of the company's sales is usually the iPhone, followed by iPad tablets and Mac computers.
However software, sold through the Apple Store, iCloud storage space and services such as music, TV and fitness subscriptions are also becoming an increasingly important part of the business.
"The linchpin to Apple's valuation re-rating remains its Services business which we believe is worth $1.5 trillion," said Mr Ives.
Apple, based in Cupertino, California, was founded in 1976 by Steve Jobs and his two business partners Steve Wozniak and Ronald Wayne.
The company debuted on the stock market in 1980 with a $1.8 billion market valuation.
The original Apple computer that was constructed by company founders Mr Wozniak and Mr was sold for $400,000 at auction in November.
*Stock percentage taken on 05.01.2022 at 10:45.
*BBC: Apple becomes first firm to hit $3tn market value. Last viewed on 05.01.2022 on https://www.bbc.com/news/business-59864059
