On Monday, Apple became the first company in history to attain a US$3tn stock market value, before slipping slightly beneath the hallowed threshold later in the day’s trading. As reported by Reuters, it’s the first time that a company has hit such a mark, and highlights analyst predictions that consumers will continue to pay out for iPhones, MacBooks and other Apple services in 2022.
‘Apple shared the $2 trillion market value club with Microsoft Corp (MSFT.O), which is now worth about $2.5 trillion’, wrote Reuters Reporters, Nivedita Balu and Noel Randewich. ‘Alphabet Inc (GOOGL.O), Amazon.com Inc and Tesla Inc (TSLA.O) have market values above $1 trillion. Saudi Arabian Oil Co (2222.SE) is valued at about $1.9 trillion, according to Refinitiv.’
The milestone comes amidst an impressive week for global stocks, as optimism about the decreased severity of the Omicron variant of Covid-19 begins to spark broader economic positivity.
For those following the markets, the end of 2021 also proved to be a busy time for the traditional media industry. We saw a public listing for BuzzFeed, a debut from LADbible on London’s AIM stock exchange, and reports that the proposed Forbes SPAC may not go ahead as planned. FIPP Reporter, Ashley Norris, looks at the latter here.