On Friday, multinational technology company Apple reached a significant milestone by closing trading with a market value of $3 trillion. This achievement, as reported by CBS, makes Apple the first company to accomplish this feat in recent times. The 47-year-old tech firm’s shares concluded the trading day with a 2.3 percent increase at $193.97, propelling its total market value to $3.04 trillion.
Notably, Apple had previously approached a similar milestone in 2022 but was unable to maintain it by the market’s close. The recent surge in market value can be attributed, in part, to the introduction of Vision Pro, which immerses users in artificial environments through virtual reality technology. Alongside other tech giants such as Microsoft and chipmaker Nvidia, Apple’s success has contributed to the S&P 500’s impressive first-quarter gain of nearly 16 percent in 2023.