Apple becomes first company to hit $3 trillion market value, then slips

On the first day of trading in 2022, the Silicon Valley company's shares hit an intraday record high of $182.88.

Apple Inc. on Monday became the first company with a $3 trillion stock market value, lifted by investor confidence that the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality.

On the first day of trading in 2022, the Silicon Valley company's shares hit an intraday record high of $182.88, putting Apple's market value just above $3 trillion. The stock ended the session up 2.5% at $182.01, with Apple's market capitalization at $2.99 trillion.

The world's most valuable company reached the milestone as investors bet that consumers will continue to shell out top dollar for iPhones, MacBooks and services such as Apple TV and Apple Music.