Apple started 2022 on the right foot and became on Monday the first company to reach a market capitalization of $3 trillion.
In the first session of the year, the share price reached $182.86 per share, a price that values the technology at $3 billion, with investors confident that it will continue to deliver good results.
As "Eco Online" reports, the session is turning out to be a gaining one for the company led by Tim Cook. The stock reached a high of $182.88, then retreated to around $181.90, up 2.6%.
The fourth quarter results came in below analysts' forecasts, which the CEO attributed to problems in supply chains. Still, revenues increased 29% year-over-year, with Apple showing that it is still able to grow in all product categories.
The pandemic has accelerated the company's sales, with work-from-home and confinements increasing demand for products such as the iPhone, iPad and Mac computers. Revenues for fiscal 2021 reached $366 billion, up $33% from 2020.
A normalization of supply chain constraints over the course of this year could help accelerate the Cupertino company's numbers. Analysts have also highlighted the increase in revenues from services, such as Apple Music or Apple TV, which advanced 25.6% last quarter.
Apple's bet on augmented and virtual reality, an area where Meta Platforms (formerly Facebook) is also investing massively, has been another analyst focus. A virtual reality helmet from the apple symbol company is expected to launch in 2023.
The 3 billion mark is mostly symbolic - at 182.86 it falls below that valuation again - but it shows investor confidence.
Some analysts believe that Apple can go further. Morgan Stanley gave the company in December a 12-month price target of $200 per share. Wamsi Mohhan of Bank of America Merrill Lynch (BofA) raised the stakes as high as $210, matching the price noted by JPMorgan Chase. The current average valuation is about $175, below the current price.
The US company had hit $2 billion about 16 months ago. In 2021 alone the stock has appreciated 34%.
In the league of the most valuable tech companies, Microsoft follows with a market capitalization of $2.5 billion, Alphabet (Google) with $1.92 billion, Amazon with $1.7 billion.