Apple has reached a new milestone, becoming the first publicly traded company to close a trading day with a market value of $3 trillion.
This achievement represents a 2.31% increase from its valuation at the end of the previous week and a 46% rise compared to the same time last year.
This achievement is particularly notable because, while Apple’s market cap briefly surpassed $3 trillion in January of the previous year, it never closed a trading day at that level.
Now, however, the company has successfully closed above the $3 trillion mark. What is driving Apple’s remarkable success? As always, the iPhone plays a central role.
Since its launch, the iPhone has been crucial to Apple’s success, contributing significantly to the company’s annual revenue, with cumulative sales exceeding 2 billion units.
These sales account for nearly half of Apple’s total annual revenue. Apple’s influence extends well beyond the U.S., as it also holds a strong presence in China.
In the U.S., iPhones dominate the market, capturing over 50% of the top five best-selling smartphones. In China, iPhones occupy four of the top five spots.
The recent introduction of the Apple Vision Pro, set to launch next year with a price tag of $3499, is also bolstering Apple’s success.
Aimed at revolutionizing the augmented reality (AR) industry, the Vision Pro has been positively received by investors and analysts.
With the next iPhone lineup approaching, Apple’s market dominance is expected to continue.
