Apple, the American technology behemoth, has become the first company to reach a market capitalisation of $1 trillion.
In August 2018, the company passed the $1 trillion mark, which it plans to double by August 2020.
Since the introduction of its flagship product, the iPhone, in 2007, Apple’s share price has increased by approximately 5,800%.
Apple also manufactures computers and wearable technology.
“Hiting $3 trillion is another historical moment for Apple as the company continues to prove the doubters wrong,” Wedbush analyst Dan Ives was quoted as saying by the BBC.
“The linchpin to Apple’s re-rating remains its services business, which we believe is worth $1.5 trillion,” Mr Ives said.
Tim Cook, Apple’s CEO, received over five million shares in the company.
Steve Jobs and his business partners Steve Wozniak and Ronald Wayne founded Apple in 1976 in California. It debuted on the stock market in 1980, with a market capitalization of $1.8 billion.
Mr Wozniak and Mr Jobs’ original Apple computer sold for $400,000 at auction in November.
