Apple Briefly Becomes World's First $3 Trillion Company

[LeeW]

great, now they'll care about their customers even less

And this is the real point. Yes, great for shareholders and the Apple sheep who for a significant part can't really afford their products but still worship them. Ultimately it just means they can care that little bit less about their customers than yesterday.

 

[sracer]

May I ask, and I am not meaning to come off as a jerk, if I do, I apologize. I am curious though it you left AppleLand why are on a Mac-centric rumor site? Now I read your reasoning and respect that but like me I personally can’t stand, say M$FT but I will never waste a moment of my life by going to a Microsoft rumors website. Also, yes I realize people can make choices on the www but never saw the need to go to a site who I am not going to do business with or dislike their products.

I was careful to explain in my post that it is a progressive and steady departure... I've not completely left. I still own and use a few Apple products (but when they need to be replaced, they will be replaced by non-Apple alternatives). I'm not "wasting my time" by continuing to participate here on MacRumors because I still participate in this community... offering assistance and advice... receiving input and help.

You can't stand Microsoft, to the point of using an immature abbreviation and that's fine. I never said that I can't stand Apple.

For not trying to come off as a jerk, you did a pretty good job at it.

 

[antiprotest]

They weren't going to make it at first but my Apple One subscription tipped it over.

 

[I7guy]

They should take a victory lap for raising iPad mini prices while outfitting it with a garbage LCD and keeping base storage at 64gb…

These trillions don’t just print themselves!

Yup, people throw their money at Apple, so that Apple can get into those trillions.

 

[KPOM]

Intraday, let’s see at 4pm EST after the close…

It will close just shy of $3 trillion.

 

[applehound]

Right here.

I'm not a shareholder so Apple becoming a $3T company is nothing for me to celebrate. But it does confirm my previous decision to make a steady and progressive departure from Appleland. IMO, Apple has jumped the shark from being a company that made money by doing the right thing for their customers to one that is laser-focused on profits and value at the expense of customers.

They're not unique in that regard and they are free to continue down that path... it's simply that I choose not to contribute to that effort.

Right, so you’re departing Apple…for what company? No question Apple has been more profit-oriented than it was under Jobs, but I think it’s still mindful of the overall difference between itself and other companies. Every other company on the planet does this worse than Apple, and given that there are only a few top handset makers and two OSs to choose from for phones and PCs, I think you’ll be with Apple for a long time. Either that or you’re just shooting yourself in the face to spite your nose.

 

[swingerofbirch]

I've thought for the longest time that they have to hit a wall. IMO the product quality has gone downhill. And their focus unlike more blue-skies companies seems so narrowly focused and based on products that could fall out of favor.

Other companies get valued highly based on what they might do in the future.

Tim Cook instead lives every day like he's squeezing blood from a turnip and turning over revenue left and right. Those types of companies—like oil companies—don't tend to get valued so highly despite their revenues. It's more the aspirational companies that usually do well in terms of capitalization—companies like Amazon. And to that point, if Apple had Microsoft's P/E ratio, they would be at $4 trillion. Tim Cook seems to run Apple like he's living for today, which generally doesn't bode so well for valuation.

But I have been wrong about Apple's stock trajectory at every turn.

I still wouldn't buy it today because I think it's not sustainable, but that's what I would have said a year ago and a year before that. I have to say, as a user of the products, I don't get it.

 

[cmaier]

Good, good, memory holes do their job.

Seriously: seriously?

Ok, i must be forgetting. Please cite for me the page number and edition where Apple is mentioned.

 

[ElectricPotato]

Gross

... National Product of France and change. Yet, instead of a charger with my new iPhone, I got an Apple sticker.

 

[sracer]

Right, so you’re departing Apple…for what company? No question Apple has been more profit-oriented than it was under Jobs, but I think it’s still mindful of the overall difference between itself and other companies. Every other company on the planet does this worse than Apple, and given that there are only a few top handset makers and two OSs to choose from for phones and PCs, I think you’ll be with Apple for a long time. Either that or you’re just shooting yourself in the face to spite your nose.

I responded to the question, "where are Tim Cook's critics?". You're welcome to stay with Apple. I have no desire to convince anyone to go toward Apple or away from them.

 

[dysamoria]

Damn and they still can't fix my Mac from unexpectedly crashing

Because “buy a new one” is the standard reply from the computer industry.

(Standard reply from the computer user community is “mine doesn’t do that”)

 

[dysamoria]

Apple should buy and govern Australia. I would shred my US Passport and move there in an instant.

We already mostly live under corporate rule in the USA. Why would you want to formalize it?

 

[tyranne201]

and still no money for the poor or africa.

 

[JMacHack]

Higher market valuation doesn’t mean the corporation is wealthier, for one thing.

Shh, don’t try to be rational with them. Just go along with “big money number bad”

 

[Love-hate 🍏 relationship]

i dont understand how anyone could even rejoice for this,they dont give a **** about their consumers and are the greediest companies i have ever seen,even get caught selling our data which is hilarious for a company that bases its policy around privacy ,locking down lotta stuff for it

yet too many blind dudes keep defending apple no matter what,assuming apple's ridicoulous choices in may areas,and excusing their horrendous behavior with the consumer in general.

guys,youre not helping yourselves ..

 

[tyranne201]

"The worst thing that could possible happen as we get big and we get a little more influence into the world is if we change our core values and start letting it slide. I can't do that. I'd rather quit." Steve Jobs, 2010.

 

[ian87w]

It’s amazing considering the pandemic, component shortages, and supply chain madness.

This is why everybody hate Apple, but everybody want to become Apple.

Apple Watch Series 7 was just launched in my country, and it’s sold out despite the 30% markup over US MSRP.

From business perspective, Apple is doing magic.

 

[cmaier]

i dont understand how anyone could even rejoice for this,they dont give a **** about their consumers and are the greediest companies i have ever seen,even get caught selling our data which is hilarious for a company that bases its policy around privacy ,locking down lotta stuff for it

yet too many blind dudes keep defending apple no matter what,assuming apple's ridicoulous choices in may areas,and excusing their horrendous behavior with the consumer in general.

guys,youre not helping yourselves ..

When did they get caught selling our data?

 

[diskrisk]

Look, I know it's unpopular to be happy in behalf of big businesses but out of all of the comparable size companies that could've been the first to achieve this, Apple is by far the best case scenario

 

[subi257]

Right here.

I'm not a shareholder so Apple becoming a $3T company is nothing for me to celebrate. But it does confirm my previous decision to make a steady and progressive departure from Appleland. IMO, Apple has jumped the shark from being a company that made money by doing the right thing for their customers to one that is laser-focused on profits and value at the expense of customers.

They're not unique in that regard and they are free to continue down that path... it's simply that I choose not to contribute to that effort.

Hmmmm, But you're still here!

 

[redfirebird08]

Pretty amazing to think Apple had some major financial struggles 25 years ago. It has been a pretty stunning turnaround.

 

[JMacHack]

I’m gonna make a controversial statement:

Apple got here because they make good, albeit expensive products.

 

[subi257]

How? When they are working from home?

They will each have a bottle delivered and they will open them and drink on a Teams meeting....jut like we did at our corporation....we were each sent and assorted box of assorted niche chocolate and had a tasting class run by the maker via a Teams meeting.

 

[Pootie Tang]

It took 246 years for a publicly traded corporation to reach $1 Trillion in market capitalization. (1792-2018)
It took 2 years for a company to hit $2 Trillion in market cap. (2018-2020).
It then took 18 months for a company to hit $3 Trillion (2020-2022).

 

[Abazigal]

Worth bearing in mind that market cap is simply a function of share price x number of shares in circulation. It doesn’t represent nor does it impact how much cash a company has on hand, or even how liquid it is.