Apple on verge of becoming first $3 trillion company

Apple shares rose 35% this year

FILE - The logo of Apple is illuminated at a store in the city center in Munich, Germany, on Dec. 16, 2020. Italy's antitrust watchdog has fined Apple and Amazon more than 200 million euros ($225 million) for cooperating to restrict competition in the sale of Apple and Beats branded products, in violation of European Union rules. The Italian Competition Authority said Tuesday, Nov. 23, 2021 that its investigation found that under a 2018 agreement between the U.S. tech giants, contractual provisions limited access to the Amazon.it marketplace to selected resellers. (AP Photo/Matthias Schrader, File) (Matthias Schrader, Copyright 2019 The Associated Press. All rights reserved)

Apple is on the verge of breaking a valuation record for a publicly traded company -- $3 trillion.

Before the opening bell Monday, the company Steve Jobs founded was trading at $181.75.

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If those shares go up to $1.10, Apple will become the first public company in the triple trillion club, a massive achievement for a company that only passed $2 trillion last year and $1 trillion in 2018.

Apple shares have risen 35% this year due to the success of its iPhone 13, Apple Music and Apple TV+.

The company made $83 billion last year to help bring its famously huge cash reserve up to $191 billion.

For context. Microsoft is worth about $2.6 billion, Google owner Alphabet Inc. stands at $2 trillion and Amazon checks in at $1.7 trillion.