Apple becomes first firm to hit $3tn market value

Apple becomes first firm to hit $3tn market value

jeanniejeanniejeannie.co.uk BLOG Thursday 6th January 2022

 THOUGHT FOR THE DAY

Apple becomes first firm to hit $3tn market value

US technology giant Apple has become the first company to hit a stock market valuation of $3tn (£2.2tn).

The firm’s share price has risen by around 5,800% since co-founder and former chief executive Steve Jobs unveiled the first iPhone in 2007.

However, its value slipped a little from that milestone, to end Monday’s 3rd January 2022 trading session in New York at $2.99tn.

Apple has been one of the big winners of the pandemic, as coronavirus lockdowns saw spending on gadgets jump.

“Hitting $3 trillion is another historical moment for Apple as the company continues to prove the doubters wrong,” Dan Ives, an analyst from Wedbush said.

It took just over 16 months for Apple’s stock market valuation to rise from $2tn to $3tn, as the world’s biggest technology companies saw demand soar as people became more reliant on smartphones, tablets and laptops during lockdowns.

The company became the first company to hit a stock market valuation of $1tn in August 2018.

The iPhone typically accounts for around half of the company’s sales, while it is also well-known for its iPad tablets and Mac computers.

Increasingly important parts of the business are software, sold through the Apple store, storage space via the iCloud and services such as its music, television and fitness subscription platforms.

“The linchpin to Apple’s valuation re-rating remains its Services business which we believe is worth $1.5 trillion,” Mr Ives said.

In August, Apple’s chief executive Tim Cook received more than five million shares in the firm, as he marked ten years in the job.

A company filing with the US Securities and Exchange Commission showed that he sold most of the shares for more than $750m.

It was part of a deal he struck when he took over from co-founder Steve Jobs.

The award was dependent upon on how well Apple’s shares had performed compared to other firms on the S&P 500 stock index.

Cupertino, California-based Apple was founded in 1976 by Steve Jobs and his business partners Steve Wozniak and Ronald Wayne.

The company made its stock market debut in 1980 with a market valuation of $1.8bn.

In November, the original Apple computer built by Mr Wozniak and Mr Jobs fetched $400,000 at auction in the US.

 TOP TEN OF THE DAY

Top 10 Scariest Movies of All Time

 

1              The Exorcist

2              The Shining

3              A Nightmare on Elm Street

4              The Conjuring

5              Insidious

6              Halloween

7              The Ring

8              The Grudge

9              Saw

10           Friday the 13th

 

REMEMBER: The most wasted of all days is one without laughter.

– Nicolas Chamfort

 

INSPIRATIONAL QUOTE FOR THE DAY

When you arise in the morning, think of what a precious privilege it is to be alive – to breathe, to think, to enjoy, to love.

HAPPINESS IS…

Happiness is…a $3tn company

GRANDAD’S ONE LINER JOKE OF THE DAY

What do you give a sausage dog with a fever? Mustard – it’s the best thing for a hot dog!

LOVE IS…

Love is…when every second counts.

TURN…TURN…TURN!

A time to watch The Exorcist… A time to watch The Shining.

MUSIC, MUSIC, MUSIC!

Dolly Parton Sets Three Guinness World Records

Dolly Parton Sets , Three Guinness World Records. ‘Entertainment Tonight’ reports Parton broke the female artist records for most decades (seven) on the ‘Billboard’ U.S. Hot Country Songs chart as well as the most No. 1 hits (25). She also broke one of her previous records for most hits on the chart with 109.

The 75-year-old singer was presented with three Guinness World Records certificates in Nashville. “This is the kind of stuff that really makes you very humble and very grateful for everything that’s happened. I had no idea that I would be in Guinness World Records this many times! I am flattered and honoured.” Said Dolly Parton, to Guinness World Records. “I’ve had a lot of people help me get here. Thanks to all of you and all of them for helping me have all of this. I’ve loved being able to make a living in the business that I love so much. I’ve been so fortunate to see my dreams come true, and I just hope to continue for as long as I can. You’re going to have to knock me down to stop me!”

Earlier this year, Parton was nominated for her 50th Grammy. She’ll also be joining the final season of ‘Grace and Frankie’ alongside Lily Tomlin and Jane Fonda.

 

©2022 Phil M Robinson