US technology giant Apple has become the first company to hit a stock market valuation of $3tn (£2.2tn). The firm's share price has risen by around 5,800% since co-founder and former chief executive Steve Jobs unveiled the first iPhone in 2007. Apple has been one of the big winners of the pandemic, as coronavirus lockdowns saw spending on gadgets jump. It took just over 16 months for Apple's stock market valuation to rise from $2tn to $3tn, as the world's biggest technology companies saw demand soar as people became more reliant on smartphones, tablets and laptops during lockdowns. The iPhone typically accounts for around half of the company's sales, while it is also well-known for its iPad tablets and Mac computers. Increasingly important parts of the business are software, sold through the Apple store, storage space via the iCloud and services such as its music, television and fitness subscription platforms. The company made its stock market debut in 1980 with a market valuation of $1.8bn.
