Apple is now the first public company to be valued at $3 trillion

Apple shares closed up 2.3% at $193.97 Friday, bringing its market value to $3.04 trillion. Apple is one of a handful of technology companies, including Microsoft and chipmaker Nvidia, that helped drive the S&P 500 to a gain of nearly 16% in the first half of the year.

Although the significance of reaching a $3 trillion market value is largely symbolic, its magnitude is still breathtaking. It took Apple less than two years to close with a $3 trillion market value after topping $2 trillion for the first time in August 2021, which occurred about two years after the Cupertino, California, company reached $1 trillion for the first time.

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