A new record has been set with the news that Apple has become the first public company to be valued at $3trn.
Sky News reports: “The 47-year-old technology juggernaut…officially closed up 2.3% at $193.97 per share at the end of trading on Friday. This brought its market value to $3.04trn.”
Apple did, briefly, hit this valuation in January 2022, but it could not sustain it up until the close of the markets. The company then endured a steady decline in value but it has peaked again after the news of the upcoming release of its Vision Pro virtual headset.
Apple has been steered by Tim Cook since 2011, who took over shortly before founder, Steve Jobs, passed away. Sky News states that the company now “...makes enough to pay $105bn in annual investor dividends and repurchases of its own stock. And it had almost $56bn in cash at the end of the last fiscal quarter.” It adds, to give a sense of how much money the valuation actually is: “If $3trn was distributed equally to every person in the US - which is said to have a population exceeding 336 million - each individual would pocket around $9,000.”
The news sees Apple push past Microsoft, which is valued at $2.5trn and Amazon, Alphabet - Google’s parent company - and Nvidia, who are each valued at more than $1trn each.
