Last year, the device accounted for more than half of the company’s nearly $400 billion in sales. The iPhone, unveiled by Jobs in 2007 with his hallmark showmanship, remains the crown jewel in Apple’s kingdom. Today, Apple makes so much money that it can afford to pay $105 billion annually in investor dividends and repurchases of its stock – and still be left with nearly $56 billion in cash at the end of its last fiscal quarter. At the time of Jobs’ comeback, Apple was flirting with bankruptcy and so desperate for help that it turned to its once-bitter rival Microsoft for a cash infusion. The cascading trillions have been driven by the technology empire that Apple has built since Jobs returned to the company in 1997 after being pushed aside by then-CEO John Sculley in 1985. It took Apple less than two years to close with a $3 trillion market value after topping $2 trillion for the first time in August 2021, which occurred about two years after the Cupertino, California, company reached $1 trillion for the first time. Alphabet, the parent of Google, Amazon, and Nvidia has market values above $1 trillion. Oil giant Saudi Aramco has a market value of $2.08 trillion. Microsoft is the second-most valuable public company at $2.5 trillion. If $3 trillion were distributed equally to every person in the United States, each person would receive about $9,000. It could also buy the 50 most valuable sports teams in the world with plenty of change to spare. Instead, Apple’s stock sunk into a prolonged descent that pushed its market value briefly below $2 trillion earlier this year amid a slowdown in growth and investor jitters about rising interest rates that affected the entire tech sector.Īpple didn’t come close to the $3 trillion threshold again until earlier this month when the company unveiled what could be its next big product – a high-priced headset called Vision Pro that thrusts users into artificial settings known as virtual reality.Īlthough the significance of reaching a $3 trillion market value is largely symbolic, its magnitude is still breathtaking.Ĭonsider, for instance, that $3 trillion could buy nearly 9 million homes in the U.S., based on the average sales price during the past year as calculated by Zillow.
The 47-year-old company co-founded by Silicon Valley legend Steve Jobs had briefly eclipsed a $3 trillion market value on back-to-back days in January 2022, but couldn’t hold on by the time the market closed.
0 kommentar(er)
