Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Apple's Market Value Exceeds $3 Trillion


Tue 04 Jan 2022 | 03:32 PM
Ahmed Moamar

The US company, "Apple", made a historic leap on Monday, as its market value exceeded 3 trillion dollars, becoming the first joint-stock company in the world to record this value.

Apple's stock rose about 3% to an all-time high of $182.88, exceeding $182.85 per share, which is the price required to value the company to $3 trillion.

The company's market capitalization first crossed the $1 trillion mark in August 2018 and crossed $2 trillion in August 2020.

Apple shares rose nearly 35% in 2021, as the company benefited from booming demand for the new iPhone 13 and other older versions, as well as subscription services such as Apple Music, Apple TV, iCloud, and the App Store.

Sales jumped nearly 30% to more than $83 billion in the third quarter of 2021, which ended in September, and the company has $191 billion in cash.

Since December 14, the US Department of Labor has been investigating a complaint against the technology company "Apple", which was filed by a former employee who disclosed safety issues in the workplace.

In a complaint filed with the department by former employee Ashley Govik, who said Apple had violated a range of laws covering worker rights and environmental conditions, among other things.

Govik indicated that she filed a complaint with the Ministry of Labor “to make sure that “Apple” knows that it is not above the law, and so that all other companies know that if “Apple” is accountable, it will also be held accountable.”

She  stressed  that “the normalization of the exception must end.” Legal for Big Tech.

Apple responded to the complaint, asserting that it is "strongly committed to creating and maintaining a positive workplace."