Apple, the biggest company in the world, has just surpassed a $3 trillion market cap. As many of you may know, Apple is a company that sells iPhone’s, iPad’s, and Macbooks. Apple does sell other things, but those are the main things that it sells. Apple has started spreading into different technology industries recently, such as self-driving cars like Tesla and virtual reality like Oculus. More information on this topic in my next article. During the day yesterday, Apple stock went up to $182.88 per share in the middle of the day, putting the company’s market cap just above $3 trillion. It dipped down slightly from that point and ended 2.5% up from the previous day, ending at $182.01 per share. That put its market cap at $2.99 trillion. Microsoft is the only company between $2 – $3 trillion, and Alphabet(Google), Amazon, Tesla, and Saudi Aramco are the only companies between $1 and $2 trillion. Saudi Aramco is a Saudi Arabian oil company. In 2018, the iPhone was 60% of Apple’s total revenue. That scared investors who thought Apple was relying too much on the iPhone. Apple now makes much more money from services it provides, like music. The iPhone is now 52% of Apple’s total revenue, pleasing investors.
***More Apple news is coming soon
Source: https://www.reuters.com/
