At the open on Tuesday, Apple appeared to be on track to surpass $3 trillion in market value, after the world's most valuable business briefly reached the milestone the day before.

In premarket trading, Apple's stock increased half a percent to $182.87. In intraday trading on Monday, shares broke beyond $182.86 to surpass the milestone, but the session ended down.

According to the Options Clearing Corp (OCC) statistics as of 08:21 a.m. ET on Tuesday, Apple contracts were the second most actively traded U.S. stock options after Tesla. According to Refinitiv statistics, the instrument with the most open interest is the January 20th call option with a strike price of $200.

According to Refinitiv statistics, Apple accounts for over 7% of the S&P 500 index's value, the largest for a single stock on the index at a time when the benchmark is at an all-time high.

The pandemic drove demand for iPhones, MacBooks, and iPads, helping Apple to surpass $2 trillion in market capitalization in August 2020 and add another trillion 16 months later.

"Apple has been one of the key pandemic trades for a lot of people and as we exit the pandemic... the iPhone maker is going to struggle a little bit," said Edward Moya, senior market analyst at Oanda in New York.

"The next great product breakthrough is still a long way away. Apple will have to work much harder to go to four and five trillion dollars than it had to get from two to three."

Apple intends to diversify into areas such as self-driving cars and augmented reality in order to minimize its reliance on its top-selling iPhones, which account for more than half of the company's income.

Apple is valued more than any of Europe's major regional indexes, including the FTSE 100 in the United Kingdom, the CAC 40 in France, the DAX in Germany, the IBEX 35 in Spain, and the FTSE MIB in Italy.