Apple Inc just became the first U.S. business to have a market valuation of $3 trillion, thanks to investor optimism that the iPhone maker will continue to release best-selling goods while exploring new sectors such as driverless cars and the metaverse.
In mid-day trading on the first day of trade in 2022, the company’s shares reached a high of $182.88.
The world’s most valuable firm is the first to hit the milestone, as investors believe that consumers will continue to pay high prices for iPhones, MacBooks, and services like Apple TV and Apple Music.
“The linchpin of Apple’s valuation re-rating remains its Services division, which we believe is worth $1.5 trillion in the eyes of the Street,” said Wedbush Securities analyst Daniel Ives.
