Apple Hits $3 Trillion Market Cap Milestone; Tesla Up 12%

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Apple has become the first American company to surpass a market capitalization of $3 trillion. Tesla's stock soared 12% thanks to strong sales.

Apple's stock price exceeded a $3 trillion market cap intraday on the 3rd (local time). On that day, Apple’s stock opened at $177.83 and rose to $182.88.

As of 2:40 PM, the stock price was $182, marking a 2.49% increase.

Apple's stock price has more than tripled since March 2020, right after the COVID-19 outbreak. Its market capitalization, which was around $1 trillion, has nearly doubled to about $2 trillion.

Last year, Apple also rose about 38%, showing the largest increase among companies included in the Dow Jones Industrial Average 30.

[Image source=Reuters Yonhap News]

The Wall Street Journal evaluated Apple’s surpassing of a $3 trillion market cap as a new milestone in the rapid rise of tech company stocks since the COVID-19 pandemic.

On the same day, Tesla’s stock also surged on the New York Stock Exchange. Tesla announced the previous day that its vehicle deliveries last year reached about 940,000 units, exceeding market expectations, and its stock rose 12.59% to trade at $1,189. Tesla is also close to entering the 'One Thousand Two Hundred Tesla' mark.

Fueled by the stock surge, Tesla’s market capitalization rose to $1.19 trillion on the day.

This content was produced with the assistance of AI translation services.