Apple is officially the world’s first $3 trillion company ever

Apple became the first company in the world with one valuation of 3 trillion dollars Friday (June 30). The company’s stock closed at $193.97 per share — good for a market capitalization of $3.05 trillion.

Apple’s feat became official at the end of the trading day on the Nasdaq stock exchange, six months after the company short topped the $3 trillion threshold during intraday trading on January 3.

The company’s share price was recently benefited by a broader setback in the technology sector, as well as from increasing iPhone sales and excitement over Apple Vision Pro mixed reality headsetwhich will be released early next year.

There aren’t many trillion-dollar companies

There are only six companies with a trillion dollar valuation – and five of them are technology firms. Apple is directly followed by the computer giant Microsoft Corp. (2.5 trillion dollars), which was briefly the world’s largest most valuable company in 2021 amid serious strains on global supply chain. Microsoft was lifted by its large cloud services business.

Next on the list is state-backed oil and gas company Saudi Aramco ($2 trillion), the only non-tech business worth more than $1 trillion. Saudi Aramco is followed by Google parent Alphabet ($1.5 trillion), e-commerce and cloud leader Amazon ($1.3 trillion) and chipmaker Nvidia ($1 trillion).

Nvidia is the latest entrant to trillion dollar clubriding a wave of artificial intelligence hype to financial success. In May, the Santa Clara, Calif.-based company’s market capitalization rose almost 200 billion dollars in a single day.

Apple’s performance on June 30 was the latest in the series: It was not only the first company to top a $3 trillion valuation. It was also the first to surpass $1 trillion in 2018, as well as $2 trillion in 2020.

This article has been updated to reflect Apple’s stock performance at the close of trading on Friday (June 30).