Apple is now the first company to hit $3 trillion market value

Apple Inc on Monday became the first company with a $3 trillion stock market value, lifted by investors’ confidence that the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality.

The market is rewarding companies that have strong fundamentals and balance sheets, and the companies that are hitting these sort of huge market caps have proven they are strong businesses and not speculation. The rapid embrace of technologies such as 5G, virtual reality and artificial intelligence has also helped these stocks become market darlings as investors moved towards cash-rich companies and away from businesses that have been more sensitive to economic growth.

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