Apple’s $3 trillion market value follows 5,800% gain since iPhone debut

FILE PHOTO: An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar/File Photo

(Reuters) - Apple on Monday became the first publicly traded company with a stock market value of over $3 trillion, marking the latest milestone in the Silicon Valley heavyweight's spectacular stock surge since introducing the iPhone in 2007.

Apple's shares have climbed around 5,800% since co-founder and former Chief Executive Steve Jobs unveiled the first iPhone in January 2007, far outpacing the S&P 500's gain of about 230% during the same period. (Graphic: Apple vs the S&P 500 since the iPhone's introduction,

Microsoft and Amazon have each briefly eclipsed Apple as the most valuable publicly listed U.S. company in the past three years, although Apple has recently pulled ahead. Microsoft's stock market value currently stands at about $2.5 trillion, while Amazon's is at around $1.7 trillion, having fallen behind Alphabet, now at $1.9 trillion. (Graphic: Apple vs other Big Tech,

Several Big Tech firms saw their shares outperform Apple's 2021 gain of 34%. Microsoft and Tesla both rallied about 50% in 2021, while Alphabet jumped 65% and Nvidia soared 125%, putting the chipmaker's stock market value at over $700 billion.

Apple now accounts for about 7% of the S&P 500, up from as little as 5% in June and back in line with where it started 2021. (Graphic: Apple's weight in the S&P 500,

Following its 2.9% gain on Monday afternoon, Apple is trading at about 30 times its expected 12-month earnings, down from a multiple of 32 in early 2021 but still at highs not seen since 2008, according to Refinitiv data. (Graphic: Apple's PE valuation,

As Apple's stock has climbed in the past several months, so have analysts' price targets. J.P.Morgan and BofA Global Research in December each raised their price targets for Apple's stock to a street high of $210, according to Refinitiv. That price target would put Apple's market capitalization at about $3.45 trillion. (Graphic: Apple vs analyst price targets,

(Reporting by Noel Randewich and Saqib Iqbal Ahmed; Editing by Nick Zieminski)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights


Next In Tech News

SG victims of spoofed work emails suffer losses of over S$70mil, 149 victims in 2022
Victims in SG lose S$466,000 to scammers impersonating ecommerce platform staff
Spotify translating more and more podcasts into multiple languages
Apple announces new accessibility tools for people with disabilities
Communities, Twitter’s take on subreddits, grow after global rollout
Wireless and rechargeable: Captain America saves the Xbox controller
Boeing's Starliner capsule docks with space station in uncrewed flight test
‘Tunic’ for PCs and Xbox: Early ‘Legend Of Zelda’, but with a fox
Hyundai Motor Group to invest $5.5 billion to build EV, battery facilities in U.S
Analysis-Tesla brand threatened by Musk harassment claim, criticism of Democrats

Others Also Read