Apple’s market cap hit today, Wednesday $ 2 trillionThus, its value has doubled in just over two years, becoming the first American public company to reach this value.
The company’s share price reached $ 467.77, raising its value to more than $ 2 trillion before 11 am EST, and the value reached this value based on the number of shares outstanding, amounting to 4,275,634,000 shares.
The company’s market value reached $ 1 trillion for the first time on August 2, 2018. Wall Street largely predicted that Apple would be the first company whose value exceeded $ 2 trillion. On July 31, Apple overtook the oil giant Saudi Aramco to become the most valuable publicly traded company in the world.
And it didn’t take long for the other tech giants to match Apple’s $ 1 trillion market value. Today, Amazon, Microsoft and Alphabet have a market value of over a trillion dollars.
Apple shares have risen 59.24% year-to-date, even with the emerging coronavirus (COVID-19) COVID-19 pandemic, which has hurt many companies. Last year, shares rose 122.3%.
The company recorded a historically strong third quarter in late July, which included $ 59.7 billion in revenue and double-digit growth in its product and service sectors. Apple saw widespread retail closures during the quarter, particularly in the US, but it described work-from-home trends and strong online sales as providing a boost to overall operations.