Apple has just achieved a new milestone. The company is now the world’s first publicly traded company to close a trading day with a $3 trillion market value. Compared to its shares from last Friday, the company saw a 2.31% increase in terms of valuation. Comparing this valuation to the previous year, the tech giant experienced a 46% boost.
This milestone holds even greater significance compared to the previous year. In January of last year, the market cap of Apple temporarily surpassed $3 trillion. However, it has failed to close the trading day at that level. But this time, the tech giant has successfully closed above the $3 trillion market value. (source)
Analysis: Which Factors Are Contributing to the Success of Apple?
So, what factors are actually making Apple go this strong? Well, like always, the flagship product of the tech giant for this year is iPhone. As a matter of fact, iPhones have been playing a big role in the success of the Cupertino giant since its introduction. The cumulative sales of iPhone exceeds 2 billion units in the company’s annual revenue.
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These sales figures are almost half of the total annual revenue for Apple. And Apple’s dominance expands beyond the United States. The tech giant is prevalent even in China. In the United States, the top five best-selling smartphones are iPhones. That commands over 50% of the total market share.
Similarly, in the Chinese market, iPhone holds a significant advantage by holding four out of the top five spots. The recent launch of the Apple Vision Pro is also contributing to its success. It’s planned to go on sale next year with a price of $3499. With it, Apple aims to revolutionize the AR (Augmented Reality) industry. And the product has been welcomed well by investors and evaluators. Also, let’s not forget that the next iPhone lineup is right around the corner. So, Apple’s dominance will likely continue for a good while.
