Apple Inc's market value hovered just shy of the $3 trillion mark on Monday, following a stunning run over the past decade that has turned it into the world's most valuable company.
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The company's shares fell just over 2% on Monday to close at $175.74, reversing earlier gains that saw them approach the $182.86 price needed to record a $3 trillion market value.
Apple's stock rose about 11% last week, extending its more than 30% year-to-date gain as investors remain confident that flush consumers will continue to pay top dollar for iPhones, MacBooks and services such as Apple TV and Apple Music.
The iPhone maker's march from $2 trillion to near $3 trillion in market value took 16 months, as it led a group of megacap tech companies such as Google-parent Alphabet Inc and Amazon.com Inc that benefited from people and businesses relying heavily on technology during the pandemic.
By comparison, Apple's move from $1 trillion to $2 trillion took two years.
