Tim Cook can do no wrong. Just weeks a completely new (and untested) product segment, his company has reached new heights: becoming the first corporation to hit the $3 trillion market cap. And if seems unfazed by the achievement, it's probably because this isn't the first time the company has made waves for its market cap. after announcing in the world Apple In fact, Apple was the first publicly traded U.S. corporation to hit the $1 trillion market cap, snubbing the likes of and to reach that milestone in 2018. While it took Apple nearly 40 years to become a $1 trillion company from the time of its IPO, hitting the next trillion was easy breezy, taking the iPhone maker over two years to do so. Google Microsoft Which brings us to today. While the company took a little longer to get here (around three years), the fact that it's even the $3 trillion market cap is mind boggling in itself. So what gives? Well, , there's a lot at play here, has . Investors are simply flocking towards Apple stocks because of the company's strong fundamentals, which includes things like earnings growth across its product segments and a generous policy of regularly rewarding shareholders with buybacks and through dividends. at according to reports none of which anything to do with artificial intelligence With a business like that, some fund managers regret nearly as much of the company's stock as they would have liked, particularly given that the company is expected to become in the coming years. Are we talking $4 trillion in the next five years? Who knows.. not owning even more valuable That said, the company's foray into producing augmented-reality headsets has hit a snag. to the , the Cupertino, Calif.-based company has cut the production forecast for the so-called spatial computing devices to under 400,000, or less than half of the 1 million units the company expected to sell during the first 12 months of launch, because of the yield of micro-OLEDs that are free of defects. According Financial Times The Vision Pro headsets represent Apple's first new product category in almost a decade and analysts are monitoring its launch very, very closely, though its high price point of $3,499 — the most for a headset — had already put the product's success into question. With production problems already aplenty, the company has laid dormant plans for a cheaper version of the device for now. Apple ranked #26 on HackerNoon's this week. Tech Company Rankings 👋 You’re reading of HackerNoon's Tech Company News Brief, a weekly collection of tech goodness that combines HackerNoon's proprietary data with internet trends to determine which companies are rising and falling in the public consciousness. goes live tomorrow. Hate waiting? No problemo! Just subscribe to receive the newsletter a day early in your inbox. part 1 Part 2 here complete In Other News.. 📰 Mastodon wins, loses: Elon Musk's are only the popularity of Twitter's rivals, including Germany's Mastodon. Twitter chaotic decisions boosting Subscription services at Snap . The legacy social media app recently revealed that its subscription service Snapchat+ hit 4 million members. The service, which costs $3.99/month, was launched in June of last year. seem to be working and were among a slew of investors that funneled about in Inflection AI, an AI startup founded by Google DeepMind co-founder Mustafa Suleyman and LinkedIn co-founder Reid Hoffman. Microsoft Nvidia $1.3 billion Binance is in Germany. not welcome U.S. regulators for rewarding online merchants that use its logistics services and punishing those that don't. plan to sue Amazon And that's a wrap! Don't forget to share this newsletter with your family and friends! See y'all next week. PEACE! ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon

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