Apple becomes world's first $3tn company
On Monday, Apple became the first company in history to attain a US$3tn stock market value, before slipping slightly beneath the hallowed threshold later in the day's trading. As reported by Reuters, it's the first time that a company has hit such a mark, and highlights analyst predictions that consumers will continue to pay out for iPhones, MacBooks and other Apple services in 2022.
'Apple shared the $2 trillion market value club with Microsoft Corp (MSFT.O), which is now worth about $2.5 trillion', wrote Reuters Reporters, Nivedita Balu and Noel Randewich. 'Alphabet Inc (GOOGL.O), Amazon.com Inc and Tesla Inc (TSLA.O) have market values above $1 trillion. Saudi Arabian Oil Co (2222.SE) is valued at about $1.9 trillion, according to Refinitiv.'
The milestone comes amidst an impressive week for global stocks, as optimism about the decreased severity of the Omicron variant of Covid-19 begins to spark broader economic positivity.
For those following the markets, the end of 2021 also proved to be a busy time for the traditional media industry. We saw a public listing for BuzzFeed, a debut from LADbible on London's AIM stock exchange, and reports that the proposed Forbes SPAC may not go ahead as planned. FIPP Reporter, Ashley Norris, looks at the latter here.
Jamie Gavin