Shares of Apple Inc rose as much as 3 percent to trade at $182.88 – enough to secure the iPhone maker the coveted crown of becoming the first traded company on the planet to cross the $3 trillion market capitalization mark. Apple’s market cap briefly passed $3 trillion more than a year after it surpassed the $2 trillion mark and three years after eclipsing $1 trillion.

Apple’s value now surpasses the nominal gross domestic products (GDPs) of six of the world’s top 10 economies including the United Kingdom, India, France, Italy, Canada and South Korea.

Apple’s huge success is due in large part to the iPhone, which revolutionized the smartphone industry and remains a cash cow for the company. But Apple continues to see strong momentum in its other businesses as well, with its services and Mac divisions reporting all-time highs in its Q4 2021 earnings.

Apple isn’t the only company in the trillion-dollar club; Amazon, Google parent company Alphabet, Microsoft, and Tesla all have market caps exceeding $1 trillion. In recent years, Apple has also jostled with others for the crown of the world’s most valuable publicly traded company. It passed Saudi Aramco in July 2020, though it was overtaken for a time by Microsoft in October.

Apple’s rise has been relentless in recent years. Back in August 2018, it became the first United States firm to surpass $1 trillion in market value. It blew past the $2 trillion mark only two years later in August 2020. And thanks to the turbo-charged pandemic appetite for tech shares, it took roughly 17 months for Apple to reach the $3 trillion mark.

Even as it led the charge in technological change, Apple has itself changed with times. While the company's flagship product, the iPhone, remains a money-spinner, Apple's Services increasingly account for a major chunk of its profits. The latter includes revenues from its App store, music, and television streaming businesses.