Apple stock celebrates 2022… the first company in the world to reach $3 trillion, Apple and Tesla shares gave the biggest boost to the S&P 500 index.
US stocks closed higher on Monday, and during the session the market value of Apple reached three trillion dollars, while Tesla announced record deliveries in the fourth quarter of 2021, which improved investor sentiment in the first trading day of this year.
On Monday, the first session of the new year, Apple became the first company in the world to reach the milestone.
The company’s share was able to record a new price of about $183 yesterday, which made the market value exceed this value, but it ended the session at $182, with a market value of $2.99 trillion. Investors are betting that the iPhone maker will continue to launch more innovative products and enter new markets such as electric and self-driving cars and virtual reality.
Tesla shares rose 13.53% after the company’s quarterly sales beat analyst estimates, overcoming a global chip shortage as production in China increased.
The two stocks gave the largest support to the Standard & Poor’s 500 index.
Patrick Burton, who owns 2.75 million Apple shares, said: “We are satisfied with the outlook, and we continue to see viable opportunities going forward, with iPhones and additional growth drivers in both services and new products,” according to “Bloomberg” agency, and reviewed by “Al Arabiya.net.”
Apple’s market capitalization reached $1 trillion for the first time in mid-2018, and it reached $2 trillion in August 2020, and it was the first US company to exceed that level.
As Apple has grown in size, so has its relative weight in the S&P 500 index, at around 7%.
According to preliminary data, the Dow Jones Industrial Average rose 246.83 points, or 0.68%, to 36585.13 points at the close, and the Standard & Poor’s 500 Index ended the session, up 30.41 points, or 0.64%, to 4796.59 points.
The Nasdaq Composite Index also rose 187.83 points, or 1.2%, to 15,832.80 points.