Apple Makes History as First Company to Reach $3 Trillion Market

Apple has set a new record as the world's first company to achieve a market capitalization exceeding $3 trillion. The tech giant's stock price closed at $193.97 on June 30, with a market value of $3.05 trillion. Apple's lasting # custom lcd module # impact on consumers' lives and commerce worldwide, along with the resilience of its unique products, have contributed to its success.

Apple's current market value is twice that of its longtime rival Google and seven times that of ExxonMobil, the former world leader. Despite concerns about its heavy reliance on Chinese manufacturing and escalating tensions between the West and China, Apple's dominance in the market remains unshakable.

The company's shares have surged this year, driven by new demand from emerging markets, such as India, and the release of its first new product in nearly a # 8 inch lcd module # decade, the $3,499 Apple headset, which CEO Tim Cook calls a "spatial computing" platform. Apple's shares have risen almost 50% since the beginning of the year, outpacing the Nasdaq Composite's 30% gain.

Apple took 42 years to reach a market capitalization of $1 trillion in 2018, followed by $2 trillion in 2020, and nearly three more years to break the $3 trillion mark. Although Apple's resilience is largely attributed to the strength of its iPhone, which accounts for approximately half of the company's annual sales, the company is also developing iPhone-related businesses that generate additional sales while keeping customers # Thin Film Transistor-Liquid Crys-tal Display # connected to the Apple ecosystem.

According to Dan Morgan, senior portfolio manager at Sinous Trust in the United States, Apple's "huge cash flow and a large customer base" make it a safe haven for investors in almost any situation. Microsoft, Apple's long-time rival, will likely surpass $2 trillion in market value in 2021, just a year after Apple, and briefly overtook Apple to become the world's most valuable company. The Redmond, Washington-based software company is currently worth about $2.5 trillion.