Apple becomes first company to hit $3trn market value

NEW YORK: Apple Inc on Monday became the first company in the world to hit $3 trillion in market capitalization, thanks to investor confidence that the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and metaverse.

On the first day of trading in 2022, the company’s shares rose to $182.88 in mid-day trading, a new record. The world’s most valuable company is the first to reach the milestone as investors bet that consumers will continue to shell out top dollar for iPhones, MacBooks and services such as Apple TV and Apple Music.