On Monday, Apple Inc became the first company to hit a $3 trillion stock market value before ending the day a hair below that milestone, as investors bet the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality.

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On the first day of trading in 2022, the Silicon Valley company’s shares hit an intraday record high of $182.88, putting Apple’s market value just above $3 trillion. The stock ended the session up 2.5 per cent at $182.01, with Apple’s market capitalization at $2.99 trillion.