Apple Inc.’s market cap exceeded $ 2 trillion. This is the first time a U.S. company has climbed above this level.
Apple Inc. On Wednesday, Wall Street made its way into history, as the sharp rise in the share price in 2020 raised the company’s market value to over $ 2 trillion. It is the first time that an American company has exceeded this level.
It took Apple 38 years for its market value to surpass the 1 trillion level, but the next trillion step is the company to rapidly expand its hardware ecosystem with more iPhones and new Apple Watch and AirPods, launch digital services and generate more permanent revenue from 1.5 billion devices. It took only two years to strengthen its base.
Managed by CEO Tim Cook, the Cupertino, California-based company also received support from a wide range of mobile internet-connected devices, applications and other cloud services, especially during the period of quarantine measures taken due to Kovid-19. Share repurchases and dividends are attracting new investors like Warren Buffet, while the next stock split may also be of interest to small investors.
“The market milestone ($ 2 trillion level) again shows Cook’s brilliance as the Apple COE,” said Michael Gartenberg, former senior marketing manager for iPhone maker Apple. “is his unwavering commitment to attention to detail.”
Apple stocks rose 1.4 percent in New York trading yesterday to as high as $ 468.65. The company’s current market value is close to the sum of all companies in the Russell 2000 Index, which includes low capital companies.
Aramco takes back its crown from Apple after ‘technology sales’
Oil giant Saudi Aramco rises above Apple and becomes the world’s most valuable company again. Saudi Aramco rose slightly above Apple after deepening its sales in technology shares in the US and became the world’s most valuable company again.
The shares of oil giant Aramco gained 1.1 percent this month in Riyadh, although Brent oil fell 12 percent to below $ 40.
Meanwhile, Apple, whose market value fell from $ 2.3 trillion to $ 1.9 trillion, declined by about 17 percent in September. This rate would almost put the company into the bear market if it fell 20 from its current peak.
Two companies in the world whose valuations reach $ 2 trillion: Apple and Aramco
Shares of Aramco, the world’s largest oil company, saw a peak shortly after the primary public offering in mid-October.
Apple, on the other hand, ranked first as the most valuable company in the world after the huge financial and monetary incentives it activated to protect the economy against the effects of coronavirus in June.