Although the significance of reaching a $3 trillion market value is largely symbolic, its magnitude is still breathtaking.
Microsoft is the second-most valuable public company at $2.5 trillion. Oil giant Saudi Aramco has a market value of $2.08 trillion. Alphabet, the parent of Google, Amazon and Nvidia have market values above $1 trillion.Article content The cascading trillions have been driven by the technology empire that Apple has built since Jobs returned to the company in 1997 after being pushed aside by then-CEO John Sculley in 1985. At the time of Jobs’ comeback, Apple was flirting with bankruptcy and so desperate for help that it turned to its once-bitter rival Microsoft for a cash infusion.
The iPhone, unveiled by Jobs in 2007 with his hallmark showmanship, remains the crown jewel in Apple’s kingdom. Last year, the device accounted more than half of the company’s nearly $400 billion in sales.
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