- Apple, makers of iPhone, has hit a milestone after in it briefly hit NI.2 quadrillion ($3 trillion) market capitlaization on Monday, December 3, 2022
- The company is the first to hit the mark after its shares sold for N77,000 which represents 2.5 per cent increase
- iPhone remains one of its biggest driver of growth as it sold over 27 million pieces of AirPods during the Christmas holiday
iPhone makers, Apple has hit a milestone, albeit momentarily, on Monday, January 3, 2022, when it hit the $3 trillion (N1.2 quadrillion) market capitalization.
It broke the barrier when its share price sold at N77, 131 on Monday, December 3, 2022.
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Apple climbed to 2.5 per cent value on Monday, December 3, 2022 to close at N77,000 just missing the closing trading day at the N1.2 quadrillion mark.
Experts see plenty of room to run in the firm's share value.
The company showed annual growth across all of its product categories offerings from September to December, 2021 earnings and its revenue growing by 29 per cent year-on-year.
iPhone, biggest driver of growth
iPhone is its biggest driver of growth. Its services soared by 25.6 per cent year-on-year and it has delivered more than N7.4 trillion in revenue during the quarter.
CNBC reports that it sold 27 million pairs of AirPods, its newest model during the Christmas holidays, that drove it to 20 per cent year-on-year growth for its wearable outlet.
Apple became the first publicly traded U.S. company to hit a N415 trillion market cap during trading on Aug. 2, 2018. It hit a $2 trillion valuation just over two years later on Aug. 19, 2020.
Apple’s rivals, Microsoft is valued at N103 trillion, and Amazon is valued at N2.9 trillion.
An Escape from fake iPhone
However, Legit.ng has reported that A Nigerian man has shared how he escaped buying a fake iPhone.
Instablog9ja reports that the man had gone to Computer Village, Lagos to get an iPhone 13 Pro Max
To his surprise, the phone vendor told him the iPhone 13 is available at N110k while the iPhone 12 is sold for N85k.