Apple becomes the world's first US $3tn company

US technology giant Apple has now hit a stock market valuation of $3tn (£2.2tn). The first day of trading in the year hit a intraday record of $182.88 per share.

This represents another milestone for the company among many previous achievements, which Technology Magazine recently highlighted back in November's issue.

Life after Jobs

Since the unveiling of the iphone in 2007 by co-founder and former chief executive Steve Jobs, the firm's share price has risen by around 5,800%, outpacing the S&P 500's 230% gain during the same period, according to Reuters.

Back in August of 2021, Apple's chief executive Tim Cook - who was celebrating 10 years in the role - received and then subsequently sold more than five million shares in the firm, resulting in more than $750m. The shares were part of his deal with Steve Jobs, awarded upon on how well Apple's shares had performed compared to other firms on the S&P 500 stock index.

The world's most valuable company, Apple stands alone above Microsoft Corp ($2.5 tn), Alphabet , Amazon, Tesla (all above $1 tn) and Saudi Oil Company ($1.9 tn).

Apple's stock market status in numbers

• Company made its stock market debut in 1980 with a market valuation of $1.8bn
• August 2018 saw the company hit a valuation of $1tn
• As of January 2022, Services business alone is believed to be worth $1.5 trillion
• Last 16 months has seen stock market valuation rise from $2tn to $3tn due to pandemic-influenced sales of smartphones, tablets and laptops during lockdowns.