Apple: Apple’s $ 3 trillion market value follows 5800% gain since iPhone debut

WASHINGTON: Apple on Monday became the first publicly traded company with a stock market value of more than $ 3 trillion, marking the latest milestone in the Silicon Valley heavyweight’s shares dramatically surge since the iPhone’s introduction in 2007.
Apple shares have climbed around 5,800% since co-founder and former CEO Steve Jobs unveiled the first iPhone in January 2007, far outpacing the S&P 500’s gain of around 230% over the same period. .
Microsoft and Amazon have each briefly eclipsed Apple as America’s most valuable publicly traded company in the past three years, though Apple has recently taken the lead. Microsoft’s stock market value is currently around $ 2.5 trillion, while Amazon’s is around $ 1.7 trillion, after falling behind Alphabet, which now stands at $ 1.9 trillion. of dollars.
Several large tech companies saw their stocks surpass Apple’s 34% gain in 2021. Microsoft and Tesla both rose about 50% in 2021, while Alphabet jumped 65% and Nvidia by 125%, bringing the chipmaker’s market value to over $ 700 billion.
Apple now represents around 7% of the S&P 500, down from just 5% in June and back to where it started in 2021.
After gaining 2.9% on Monday afternoon, Apple is trading at around 30 times its expected 12-month earnings, down from a multiple of 32 in early 2021 but still at highs not seen since 2008, according to the data from Refinitiv.
As Apple’s stock has climbed in recent months, analysts’ price targets have also increased. JPMorgan and BofA Global Research each raised their price targets for Apple stock to $ 210 in December, according to Refinitiv. This price target would place Apple’s market cap at around $ 3.45 trillion.
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