Apple hits $3 trillion market cap

Apple hits $3 trillion market cap

Illustration by Alex Castro / The Verge

Apple’s market cap passed $3 trillion on Monday more than a year after it surpassed the $2 trillion mark and three years after eclipsing $1 trillion.

Apple’s huge success is due in large part to the iPhone, which revolutionized the smartphone industry and remains a cash cow for the company. But Apple continues to see strong momentum in its other businesses as well, with its services and Mac divisions reporting all-time highs in its Q4 2021 earnings.

Shortly after hitting the $3 trillion milestone at around 1:45PM ET, Apple’s market cap dipped below it again. Apple’s market cap must be above the $3 trillion mark when the market closes at 4PM ET for it to officially be designated as the first publicly-traded company with that valuation.

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