The symbolic milestone shows that investors remain bullish on Apple stock and its growing ability. The value of Apple tripled in under four years with a market value of $3 trillion. Apple showed annual growth in its fourth-quarter earnings, with revenue up 29% year-over-year. The iPhone is still the biggest sales driver; Apple’s services business grew 25.6% year-over-year and delivered more than $18 billion in revenue during the quarter.
Over the holidays, Apple sold 27 million pairs of its newest AirPods model, driving 20% year-over-year growth for Apple’s wearables business during the quarter, analyst Ming-Chi Kuo of TFI Asset Management Limited said in a Monday note. Wedbush analyst Daniel Ives said that the mark is a “watershed moment” but has more room to grow, especially since Ives values Apple’s services business at $1.5 trillion.