Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
Apple reached a market capitalization of $3.3 trillion on Monday, 49 years after its founding.
Despite recent volatility in tech stocks due to US trade policy uncertainty, Apple's shares rose 28% in 2024. The company's valuation increased from $2.6 trillion in March 2023 to $3.3 trillion.
Founded on April 1, 1976, by Steve Jobs, Steve Wozniak, and Ronald Wayne, Apple started with the "Apple I" computer. The company was incorporated as "Apple Computer" in 1977. The 1984 release of the "Macintosh" revolutionized personal computing with its graphical user interface and mouse support.
The 2001 launch of the "iPod" transformed the music industry, and the 2007 release of the "iPhone" reshaped the smartphone market. In 2007, Apple dropped "Computer" from its name, reflecting its broader electronics focus, and launched the "iPad" in 2010.
In June 2024, Apple introduced "Apple Intelligence," featuring context-based notifications, AI-generated visual content, and cross-application task automation. This helped Apple reclaim its top spot as the most valuable company amid competition with Microsoft and Nvidia.
The AI-enabled iPhone 16 was unveiled in September 2024, followed by the lower-cost iPhone 16e in February 2025.
However, Apple's market share shrank due to competition from Chinese companies. iPhone sales fell 1% to $69.1 billion in the last quarter of 2024, and global smartphone shipments dropped 0.9%.
Apple's global market share declined from 20.1% in 2023 to 18.7% in 2024, though it retained its lead in the global smartphone market.
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