Apple, the manufacturer of iPads and iPhones reached the value of $3 trillion on Monday and effectively became the first company in the United States of America to reach that value. The company’s stock rose to $182.88 by Monday afternoon before falling down slightly as at 4 pm shares were trading at $182.01.
Apple’s been boosted by strong management, superior products whose release has been eventful. The company releases a variety of serious products which have helped in brand building. Customers have developed brand royalty purchasing every new product that comes out of Apple.
“Apple has been firing on all cylinders and it’s the perfect example of a company that is growing cashflow, has a moat around its business …because of the Apple ecosystem that it’s created with phones, watches, iPads and an app store, and is extremely well run,” says Chris Zaccarelli, chief investment officer, with the Independent Advisor Alliance. “It’s an incredible American success story.”
You may remember that Apple was one of the five companies whose value surpassed $1 trillion mark. The others in that category were Alphabet (parent company of Google), Tesla, Amazon and Microsoft.
Last week Apple announced that they would temporarily prevent shoppers from accessing their stores in New York and also close shops in malls from Montreal to Miami in Dade County as some of the precautions in the fight against Covid-19 pandemic.
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