Apple becomes first $3 trillion company

Apple briefly reached $3 trillion market value on Monday.

According to CNN, it's the first company in the world to be worth that much.

Apple's shares rose to an all-time high of $182.88 on Monday. However, the company closed at $182.01, which is just below the $182.85 per share that is needed to reach the $3 trillion market value.

CNBC reports that Apple's stock rose 34% in 2021.

The company market value has tripled in less than four years. It first hit $1 trillion in 2018. Apple then reached $2 trillion in 2020.

Apple's competitors are also part of the trillion-dollar club. Microsoft is worth about $2.5 trillion and Alphabet, the parent company of Google, is also valued at nearly $2 trillion.