Apple’s Valuation Surpasses $3 Trillion, Equivalent to Britain’s GDP
- Tech giant’s stock hit a record high of $193 in trading on Wall Street yesterday
Apple’s valuation has once again surpassed $3 trillion (£2.3 trillion), solidifying its position as the world’s most valuable company.
Yesterday, the tech giant’s stock reached a record high of $193 in trading on Wall Street, continuing its upward trajectory with a 54% increase in share price so far this year.
With a valuation of $3.04 trillion, Apple’s worth exceeds the combined value of Google’s parent company Alphabet, and Amazon, which are valued at $1.5 trillion and $1.3 trillion, respectively.
Apple was the first company to achieve a $1 trillion valuation in 2018, and two years later became the first company to reach $2 trillion.
In fact, Apple’s valuation is now just shy of the UK’s GDP of $3.07 trillion.
The tech giant’s stock hit a record high of $193 in trading on Wall Street yesterday as it continued an upward march that has seen the share price rise 54 per cent so far this year
Despite reaching this impressive valuation, Apple falls short of being the most valuable company in history. That record is held by the Dutch East India Company, which achieved a valuation of approximately $9 trillion in the 1630s.
Founded as a private merchant company with a 20-year monopoly on spice trading in Indonesia, the Dutch East India Company employed around 70,000 people worldwide. It was also the first business to offer shares to the public, establishing itself as the world’s first multinational corporation.
However, the Dutch East India Company’s success came at a cost, as it transported about 50,000 slaves to colonies to support its operations.
Last year, Apple briefly reached the $3 trillion mark until global stock markets plummeted due to Russia’s invasion of Ukraine. Additionally, the company faced lower sales after a Covid-19 outbreak shut down one of its key factories in China.
However, Apple made a strong recovery this year, assisted by substantial buybacks, where a company purchases its own shares to reduce the total number available, thereby boosting the price of the remaining stock.
Recently, the company gained attention for unveiling its virtual reality headset, the Vision Pro, priced at $3,499 (£2,850).
Dan Ives, managing director of US research firm Wedbush Securities, believes Apple’s fair valuation could range from $3.5 trillion with a potential for reaching $4 trillion by 2025.
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