Nigeria has the largest economy in Africa, with a GDP of $400 billion. However, its economic value is dwarfed by Apple Inc, which has a market value of $3 trillion.
When the market value of Apple is compared to the Gross Domestic Product (GDP) of the world’s countries, it ranks fifth.
Only the GDPs of four countries, the United States, China, Japan, and Germany, are greater than Apple’s.
The GDP of the United Kingdom is $2.76 trillion, while India’s GDP is $2.66 trillion.
On Monday, Apple became the first corporation in the world to have a market valuation of $3 trillion.
On the first trading day of 2022, the internet giant’s shares reached a record high of $182.88, setting the door for the firm to surpass a milestone that no other company has yet attained.
According to Reuters, investors expect the company will continue to launch high-quality products and explore new markets such as virtual reality.
According to the study, Microsoft and Apple were both part of the $2 trillion club, but Microsoft is still at $2.5 trillion while Apple has surpassed the $3 trillion threshold.
Alphabet Inc, Google’s parent firm, together with Amazon and Tesla, have a market capitalization of more than $1 trillion.
The feat is remarkable considering the business only reached the $1 trillion threshold four years ago, in 2018. Revealing that the company’s market worth has more than tripled in less than four years.
According to CBS News, the business reached the $2 trillion mark in August 2020.
Also according to reports, Tim Cook’s vision believes that the corporation should lessen its reliance on hardware and focus more on services and this has been attributed with the company’s growth.
Remarkably, Apple’s services are now worth exactly half of the company’s overall value, at $1.5 trillion.