Last year, Apple made history by briefly becoming the first $3 trillion company ever. Since that major milestone, the company has experienced some declines in market value, falling under $2 trillion during a shaky economic landscape and pandemic related hiccups in its supply chains causing production delays. Now, Apple is once again the world’s biggest company.
Apple has regained its $3 trillion market status after new product announcements at the WWDC, trading at $190.73 per share, up 45.7 percent year-to-date.
And the company hasn’t even released its full line of new products this year.
To put this achievement in perspective, when Apple was founded in 1980, shares were going for only $22 each and had a market value of $1 billion. After the introduction of the iPhone in 2006, Apple’s value jumped up to over $100 billion and shot up to $750 billion in 2015.
“Apple [is] playing chess while others play checkers,” said Wedbush analysts as reported by AppleInsider. “In FY24 the Cupertino stalwart is on pace to approach $100 billion of annual services revenue growing double digits which is a jaw dropping trajectory vs. the roughly $50 billion+ of services revenue that Apple was delivering only in FY20. We believe Apple’s fair valuation could be in the $3.5 trillion range with a bull case $4 trillion valuation by FY25.”
Whether or not Apple’s valuation stays over $3 billion is yet to be seen. The company definitely bounced back with gusto after last year’s milestone. And with the pending release of the upcoming Apple Vision Pro everyone’s already raving about, it’s likely this could just be another stepping stone for the company to achieve more historical market share reports in upcoming years.
Check back with Cord Cutters News as we await the release of the iPhone 15 this fall.