Apple Becomes 1st Company Worth $3 Trillion

Shafaq News/ Apple became the first company to reach a $3 trillion market value Monday, a leap of $1 trillion in just 16 months, despite sometimes unsteady iPhone sales and supply chain issues.

Apple's dramatic growth was reinforced by rising iPhone sales, which increased almost 40% over the 12 months ending September 2021, the New York Times reported.

According to a report by Wedbush Securities, demand for Apple products exceeds supply by about 12 million units, with supply chain issues expected to ease during the first half of 2022.

Bloomberg reported that the Company's 2022 product launches are expected to include the iPhone 14, upgraded AirPods and potentially a virtual-reality headset with augmented-reality features.

Wedbush also predicted the release of an Apple Car by 2025, prompting further growth for the Company.

Apple's closest rivals are Microsoft, valued at $2.53 trillion at the end of 2021; Google parent company Alphabet, valued at $1.92 trillion; and Amazon, valued at $1.69 trillion.

Today, its value is greater than the $2.76 trillion GDP of the United Kingdom but still short of Germany's $3.85 trillion GDP, according to World Bank data.

Over the past month, the stock has risen more than 12 percent, compared with a 3.6 percent rise in Microsoft, which now has a valuation above $2.51 trillion.

Despite the optimistic outlook, there are risks to Apple's forward march.

The company faces the most challenging regulatory atmosphere in its history, with governments bearing down in the US and India over its App Store practices and dealings with third-party developers. Any laws impacting Apple's practices could limit its income from services, now one of the Company's most important segments.

According to Bloomberg, Apple is also hitting snags and contending with new rivals. The Company's upcoming virtual and augmented reality headsets will vie with gear from Meta Platforms, formerly Facebook. Its long-in-development car project has also hit roadblocks with ever-changing goals and critical departures.