It took just 17 months for Apple Inc’s stock market valuation to surge from $2 trillion to $3 trillion. Shares of the iPhone maker briefly hit $182.88 during trading on Monday – enough to secure Apple the coveted crown of becoming the first publicly traded company on the planet to cross the $3 trillion market capitalisation mark.
Market capitalisation or “market cap” is a measure of a company’s total market dollar value based on its stock price, and is calculated by multiplying the total number of a company’s outstanding shares by the current market price of one share.
Since January 2007, when the late Apple co-founder and CEO Steve Jobs unveiled the first iPhone, shares of the Silicon Valley giant have gained 5,800 percent.
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