Apple Briefly Tops $3 Trillion Market Cap

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Shares of Apple reached as high as $182.88 in intraday trading.



Photo:

David Dee Delgado/Bloomberg News

Apple Inc.

AAPL 2.50%

briefly touched $3 trillion in market value, making it the first U.S. company to do so.

Shares of the iPhone maker crossed that level intraday when they topped $182.856 Monday afternoon, reaching $182.88, according to FactSet. Apple’s stock closed the first trading day of the year up $4.44, or 2.5%, at $182.01.

The move marked the latest milestone in a pandemic-era surge that carried shares of Apple and other large technology companies to unprecedented highs. Its 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 41% rise for Apple’s shares since the beginning of 2021, among the biggest gains in the Dow Jones Industrial Average.

Apple was one the five biggest contributors to the S&P 500’s 27% rally in 2021 along with

Microsoft Corp.

,

Nvidia Corp.

,

Alphabet Inc.

and

Tesla Inc.,

which together accounted for 31% of the index’s performance in 2021, according to S&P Dow Jones Indices data.

Apple’s polishing cloth turned heads online when the tech giant began selling it for $19. But it’s far from the only Apple add-on selling at that price. WSJ’s Dalvin Brown explains why. Illustration: Rafael Garcia

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