Yesterday Apple briefly crossed the $3 Trillion mark and in doing so became the first publically traded company to achieve the major milestone. The stock closed a little under this valuation but is an impressive achievement nonetheless.
When these kinds of numbers are quoted, often they can feel meaningless. A number just becomes a number. But to give this some context, Apple’s wealth now exceeds the UK. Apple by market cap is now worth more than the GDP of my home country. Pretty astonishing. While market cap and the GDP of a country are not directly comparable, it does highlight just how successful Apple and other tech giants have become.
“Of course, this is not directly comparable because you can’t compare a flux and a stock but it indicates the significant power and responsibility of digital platforms like Apple,”Thomas Husson, Forrester via iNews
The success of the iPhone X propelled Apple past the $1 Trillion mark back in 2018. And since that time blockbuster releases across the companies various categories including the iPad, the Mac, AirPods and Apple Watch have all seen record sales.
If Apple reached a valuation of $4 Trillion later this year as is predicted by some on Wallstreet, the company will be worth more than Google and Amazon combined with change a quarter trillion to spare. That’s pretty mind-blowing. But it also ensures relative security for Apple for decades to come.
Many rumours suggest Apple will capitalise on its ambitions to enter the mixed reality space with a headset later this year. And the long rumoured car project remains in development. Entering these categories could see Apple ride out its success into 2023. The former is a product that we might see a launch in 2022. The latter? We’re likely still a few years away from an Apple-branded car. But time will tell.
Featured image: James Giddins via Unsplash