Apple on Monday rang in the new year by becoming the first company to be worth $3 trillion, based on its stock price.
Share values of the ubiquitous tech company hit an all-time high of $182.88 on Monday, bringing it to the total $3 trillion mark just two years after the company was valued at $2 trillion. Apple crossed the $1 trillion mark in 2018.
The company’s shares have grown 38% since the beginning of 2021. Apple’s new high-water mark comes on the back of a huge holiday season: On Monday, CNBC reported that Apple sold 27 million pairs of its newest AirPods model during the shopping season.
That report, via an investor note from Apple analyst Ming-Chi Kuo of TF International Securities, also projects Apple will see 20% year-over-year revenue growth in its wearable device business.
Apple’s wearable tech line has grown significantly — the company now sells four varieties of wireless headphones, alongside its various iterations of the Apple Watch line. As of the company’s October financial report, its Wearables, Home and Accessories category made $38 billion during the 2021 fiscal year.
But Apple’s sundry product and service lines have a long way to go to approach the revenues brought in by the iPhone line, which brought in about $192 billion in revenues during FY2021, good for about 47% of the company’s total revenues.
Other tech giants may not be far behind Apple: Microsoft is worth around $2.5 trillion, followed by Google parent Alphabet at about $2 trillion and Amazon’s market cap coming in at $1.7 trillion.
