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Apple became the first U.S. company to reach $3 trillion in market value, the latest milestone in a pandemic-era surge that carried shares of the iPhone maker and other large technology companies to unprecedented highs, the Wall Street Journal reported.
Apple shares crossed the milestone when they topped $182.856 Monday. The share price has more than tripled since the pandemic lows of March 2020, adding around $2 trillion in market capitalization.
Apple is a staple in retail and institutional investors’ portfolios. The milestone marked a 38% rise for Apple’s shares since the beginning of 2021, among the biggest gains in the Dow Jones Industrial Average.