Forsige
Business

Apple Is Now Worth More than $2 Trillion, Becomes First U.S. Company to Attain the Market Capitalization

The technology giant’s shares rose 1.2 percent to Wednesday’s all-time high of $467.84 to meet the landmark.

Apple Is Now Worth More than $2 Trillion, Becomes First U.S. Company to Attain the Market Capitalization
Apple CEO, Tim Cook|Photo Credit: Getty Image

The market-value milestone for Apple comes as big US stock indices are near all-time highs. This isn’t the first time Apple has broken a market-cap record. It became the first US company to achieve a market value of $1 trillion in August 2018.
By 2020, the stock of the iPhone manufacturer has risen by nearly 55 percent, and shares have risen by more than 106 percent since the market reached a low point in the midst of the coronavirus recession on March 23 (compared to the 51 percent increase of the S&P 500 index over that period).
Amazon, Microsoft, and the parent of Google, Alphabet, have also crossed the threshold of $1 trillion since Apple’s 2018 $1 trillion market value.
In the decades since Steve Jobs started the company in a California garage, Apple has grown to a global technology giant. After the introduction of the iPhone, perhaps its most popular product.
The business has grown to provide software and wearables, delivering annual sales reaching billions of dollars. In an attempt to cater to larger base buyers all over the world, the firm recently announced its fifth stock split was hoping to take effect from a 4-for-1 split of its shares next Monday.
Apple’s market value also overshadows that of other U.S. technology companies including Microsoft ($1.7 trillion), Amazon ($1.6 trillion), Google’s parent Alphabet ($1.1 trillion), and Facebook ($761 billion).
The Saudi Aramco oil giant is the only other publicly traded company that has exceeded a market value of $2 trillion. In December 2019 it crossed the barrier, one day after its original record-setting public offering.
On July 31, 2020, Apple surpassed Saudi state oil giant Aramco after reporting strong third-quarter earnings to become the world’s most valuable publicly-traded company.

More Forsige Stories

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Forsige uses cookies to improve your experience. We'll assume you're OK with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy