The cascading trillions have been driven by the technology empire that Apple has built since Jobs returned to the company in 1997 after being pushed aside by then-CEO John Sculley in 1985. It took Apple less than two years to close with a $3 trillion market value after topping $2 trillion for the first time in August 2021, which occurred about two years after the Cupertino, California, company reached $1 trillion for the first time. Alphabet, the parent of Google, Amazon and Nvidia have market values above $1 trillion. Oil giant Saudi Aramco has a market value of $2.08 trillion. Microsoft is the second-most valuable public company at $2.5 trillion. If $3 trillion were distributed equally to every person in the United States, each person would receive about $9,000. Oil giant Saudi Aramco has a market value of $2.08 trillion.Īlthough the significance of reaching a $3 trillion market value is largely symbolic, its magnitude is still breathtaking.Ĭonsider, for instance, that $3 trillion could buy nearly 9 million homes in the U.S., based on the average sales price during the past year as calculated by Zillow. It could also buy the 50 most valuable sports teams in the world with plenty of change to spare. Microsoft is the second-most valuable public company at $2.53 trillion. The 47-year-old company co-founded by Silicon Valley legend Steve Jobs had briefly eclipsed a $3 trillion market value on back-to-back days in January 2022, but couldn't hold on by the time the market closed. Business news stories from across Canada and the world.Apple is one of a handful of technology companies, including Microsoft and chipmaker Nvidia, that have helped drive the S&P 500 to a gain of more than 15 per cent in the first half of the year. ET Friday, Apple shares were up almost 2 per cent, bringing its intraday market value to $3.04 trillion. Apple is near to becoming the first publicly traded company to close a trading day with a US$3 trillion market value, marking another milestone for a technology juggernaut that has reshaped society with a line-up of products that churn out eye-popping profits.Īs of 2 p.m.
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