Apple Value Tops $3 Trillion, A First In Corporate History

Apple Value Tops $3 Trillion, A First In Corporate HistApple's shares have climbed around 5,800% since co-founder and former Chief Executive Steve Jobs unveiled the first iPhone in January 2007.

Concerns have bubbled up in some corners -- about a shortage of chips, reports of iPhone demand starting to taper off and the prospect of rising interest rates -- but investors large and small have focused on the global popularity of Apple's products, the potential of new productsto maintain its steady sales growth, and the company's strong cash balance as reasons to keep buying the stock day after day.

"I never thought I'd see a $3 trillion market cap, but it really speaks to Apple's prospects over the next five to 10 years," said Patrick Burton, co-portfolio manager of the MainStay Winslow Large Cap Growth Fund, which holds about 2.75 million Apple shares. "We feel very good about the outlook, and continue to see meaningful opportunities ahead, with a stable iPhone franchise and growth drivers from both services and new products. It has really been a great growth stock, and the valuation is sustainable Apple Value Tops $3