CEOWORLD magazine - Latest - Tech and Innovation - Apple is close to reaching a valuation of $3 trillion.

Tech and Innovation

Apple is close to reaching a valuation of $3 trillion.

Timothy Donald Cook
Timothy Donald Cook (Tim Cook), chief executive officer of Apple Inc.

Apple, the world’s most-valuable listed company, is on the brink of two major milestones: an all-time record valuation and a $3 trillion market capitalization. Microsoft (market cap of $2.47 trillion), Saudi Aramco (market cap of $2.05 trillion), Google parent Alphabet (market cap of $1.58 trillion), and Amazon (market cap of $1.23 trillion) are the only other companies valued at over $1 trillion. Nvidia Corporation isn’t far behind. Nvidia’s market valuation ($963 billion) is just shy of $1 trillion.

As of May 26, 2023, Apple’s shares have surged by 35.02% year-to-date, reaching a trading price of just over $175.43. This has been a positive development for the tech giant, as its market cap has now surpassed $2.75 trillion. This puts Apple within close range of its record-breaking market cap of $2.9 trillion that it attained in January 2022.

To put that into perspective, Apple’s value now surpasses the nominal gross domestic product (GDP) of some of the world’s top economies, including Italy ($2.16 trillion), Canada ($2.08 trillion), Brazil ($2.02 trillion), Russia ($2.06trillion), South Korea ($1.72 trillion) and Australia ($1.70 trillion).

Apple’s impressive $670 billion gain in 2023 has allowed it to retain its position as the world’s largest company by market capitalization. If the stock continues to rise by another 10%, Apple would become the first company in history to reach a valuation of $3 trillion.

Market capitalisation or “market cap” is a measure of a company’s total market dollar value based on its stock price, and is calculated by multiplying the total number of a company’s outstanding shares by the current market price of one share.

Apple became the first publicly traded U.S. company to hit a $1 trillion market cap during intraday trading on Aug. 2, 2018. It hit a $2 trillion valuation just over two years later on Aug. 19, 2020.

Apple CEO Tim Cook was recently ranked No. 4 in a list of the world’s best CEOs for 2023; meanwhile, Apple Inc. ranked No. 3 in the CEOWORLD magazine’s ranking of the most influential companies in the world.

How Apple Makes Its Money: The majority of the company’s income comes from the iPhone, Mac, and iPad product lines, which were originally conceptualized during Steve Jobs’ tenure at Apple. Apple Inc. (AAPL) posted a net income of $99.8 billion on revenue of $394.3 billion for its 2022 fiscal year (FY), which ended Sept. 24, 2022.

  • iPhone: $205.5 billion
  • Mac: $40.2 billion
  • iPad: $29.3 billion
  • Wearables, home, accessories: $41.2 billion
  • Services: $78.1 billion

Have you read?
World’s trendiest countries, 2023.
World’s Richest People (Top Billionaires, 2023).
Best Apps for Reading News for Google’s Android and Apple’s iOS.
Music successful CEOs and C-level executives listen to.
Which are the healthiest countries in the world for 2023?
Ready to join the CEOWORLD magazine Executive Council– Find out if you are eligible to apply.

Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.
Thank you for supporting our journalism. Subscribe here.
For media queries, please contact:
CEOWORLD magazine - Latest - Tech and Innovation - Apple is close to reaching a valuation of $3 trillion.
Prof. Dr. Amarendra Bhushan Dhiraj
Prof. Dr. Amarendra Bhushan Dhiraj is a media and technology executive, macro-economist, strategic thinker, chair, and chief executive officer of the CEOWORLD magazine, one of the world’s most influential and recognized global news publications. Under Dr. Amarendra's leadership, CEOWORLD magazine has become the world's most iconic news organization, whose rigorous reporting and unsurpassed storytelling connect with millions of business leaders daily. Additionally, he serves as the chair and founding member of the CEOWORLD magazine’s Inclusion Advisory Board.

In his current role, he counsels and collaborates with c-suite executives of large multinational corporations, helping them drive change in their companies to improve their competitiveness. Dr. Amarendra has extensive experience in serving on numerous boards. He leads and supports a globally dispersed team of columnists, correspondents, editors, journalists, reporters, researchers, and industry analysts.

He received his Ph.D. in Finance and Banking from the European Global School, Paris, France. He also received his Doctoral Degree in Chartered Accountancy from the European International University Paris, France, and a Doctorate in Business Administration from Kyiv National University of Technologies and Design (KNUTD), Ukraine. He earned his Master of Business Administration degree in Finance and his master’s degree in Chartered Accountancy (CA) from European Global School Paris. Dr. Amarendra also holds a Master of Business Administration degree in International Relations and Affairs from the American University of Athens, Alabama, United States.

As CEO, he transformed the CEOWORLD magazine into a highly efficient, digital-first, profitable enterprise. Today, CEOWORLD magazine is a standard bearer for modern responsible journalism. Dr. Amarendra retains a strong desire to continuously improve his skills and abilities and believes that the first step to being a true leader is to inspire others to lead with you.

Prof. Dr. Amarendra Bhushan Dhiraj is the CHAIR, CEO, AND EDITORIAL DIRECTOR of the CEOWORLD magazine. Connect with him through LinkedIn.