https://www.theguardian.com/business/nils-pratley-on-finance/2022/jan/04/apples-3tn-valuation-is-not-as-ridiculous-as-it-seems

The diversified technology giant generated revenues of $1bn a day in its last financial year

The striking part about Apple’s $3tn valuation is that it does not look obviously wrong. Or, rather, it does not appear out of line with the racy values the US stock market places on technology companies. There is no need, for example, to engage in heroic horizon-gazing projections, as with $1.2tn Tesla, to support the enormous number. One can roughly get to $3tn at Apple via conventional yardsticks such as revenues, profits and cash generation.