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Investing.com — Apple Inc (NASDAQ:AAPL) become the first company to reach a $3 trillion market value on Monday, as investors pushed the stock well over 2% above its closing price on New Years Eve to an all-time high of $182.88.
The tech powerhouse reached the milestone on the first trading day of 2022, taking just over one year to move from a market value of $2 trillion as the pandemic saw consumers continuously turn to tech gadgets during lockdown periods.
Earlier in the session, Wedbush analyst Daniel Ives provided positive commentary on Apple for 2022.
Ives told investors in a research note that demand outstripped supply for the company in December. The analyst added that he believes Apple sold over 40 million iPhones during the holiday season, a record number despite chip shortages. He added that China remains a major source of strength for the company.
Apple remains Wedbush’s favorite tech stock as they continue to be bullish on the industry in 2022.
