Apple became the first company to reach $3 trillion market value Monday, a leap of $1 trillion in just 16 months, despite sometimes unsteady iPhone sales and supply chain issues.
Apple’s dramatic growth was reinforced by rising iPhone sales, which increased almost 40% over the 12-month period ending September 2021, the New York Times reported.
Demand for Apple products exceeds supply by about 12 million units, with supply chain issues expected to ease during the first half of 2022, according to a report by investment firm Wedbush Securities.
Apple’s 2022 product launches are expected to include the iPhone 14, upgraded AirPods and potentially a virtual-reality headset with augmented-reality features, Bloomberg reported.
Wedbush also predicted the release of an Apple Car by 2025, prompting further growth for the company.
Apple’s closest rivals are Microsoft, valued at $2.53 trillion at the end of 2021, Google parent company Alphabet, valued at $1.92 trillion, and Amazon, valued at $1.69 trillion.
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