The report has revealed that the stock price of the American multinational technology company, Apple exceeds $3 trillion, about 345 trillion yen as of Monday, January 3, 2022. This stock price is believed to be equivalent to half of the total of the first section of the Tokyo Stock Exchange.
The technology giant’s stock price reached $182.88, and its market capitalization temporarily exceeded the $3 trillion mark. The closing price will be 2.5 percent higher than the previous weekend, and the market capitalization will be roughly ten times that of Toyota Motor Corporation (about 34 trillion yen), Japan’s largest company, and about half of the total market capitalization of 730 trillion yen on the Tokyo Stock Exchange’s First Section.
Since January 2021, Apple has been ranked as the world’s most valuable and the largest information technology company by revenue.
On November 23, 2019, former United States, President Donald Trump visited a manufacturing plant and contributed to the production industry in the United States leading to the stock price purchase increases.
With this development, the American-based technology company is now the world’s first publicly-traded company to ever reach $3 trillion market value, when its stock briefly eclipsed.
Speaking about the development and how the company started, Steve Wozniak, an Apple engineer, said:
“When we started, we thought it would be a successful company that would go forever. But you don’t really envision this,”.“At the time, the amount of memory that would hold one song cost $1 million.”
However, according to the senior global market strategist at Wells Fargo Investment Institute, Scott Wren, said:
“The market is rewarding companies that have strong fundamentals and balance sheets, and the companies that are hitting these sort of huge market caps have proven they are strong businesses and not speculation.”
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