Apple's market value approached near the three trillion dollar barrier, and that's why an amazing performance over the past decade turned it into one of the world's most valuable companies.


And according to Arab Net, the company’s shares fell, yesterday, Monday, a little more than 2%, to close at 175.74 dollars, abandoning its previous gains, which brought it close to the price of 182.86, which represents an increase of 4%, which is the level needed to reach its market value of the record three trillion dollars.


Apple stock rose about 11% last week, extending its gains that exceeded 30% since the beginning of the year, as investors remained confident that consumers will continue to buy iPhones, MacBooks and services such as Apple TV and Apple Music despite their high prices.


Apple's march to reach its market value from two trillion dollars to three trillion took 16 months, during which a group of giant technology companies, such as Alphabet, the parent company of Google and Amazon.com, took the lead, which benefited from people and companies' heavy reliance on technology during the Corona pandemic.


By comparison, Apple went from the first trillion dollars to the two trillion within two years.


In good hands

It is now one of the most valuable companies in the market, said Brian Frank, a portfolio manager at Frank Capital, which shows the dominance of American technology in the world and how investors have become Confident that they are in good hands as long as they use Apple products. The stock apparently benefited from every possible good outcome.


Among the new revenue streams investors expect are Apple Car, along with growth in service categories such as apps and TV, which is still lagging far behind in terms of revenue generation for Apple over iPhone sales, which account for 65% of sales, said Daniel Morgan, senior portfolio manager at Sinovos Trust. Company revenue.


Breaking the $3 trillion barrier will boost Apple CEO Tim Cook, who took over after Steve Jobs resigned in 2011 to oversee the company's expansion into new products and markets.


"Tim Cook has done an amazing job over the past decade, raising Apple's stock price by more than 1,400%," said Edward Moya, analyst at OANDA.


Alone on the throne

If Apple reaches $3 trillion, it will leave Microsoft alone in the $2 trillion club, while Alphabet, which owns Google, Amazon and Tesla, has crossed the $1 trillion mark.


Microsoft, with a market capitalization of about $2.6 trillion, was the world's most valuable company until late October, when Apple reported that supply chain restrictions could affect its growth for the remainder of the year.