Apple has reached a new milestone, becoming the first U.S. publicly traded company to reach a market capitalization of more than $ 2 billion.
MAIN ASPECTS
- Shares of the iPhone maker are up nearly 106% since the market bottomed during the coronavirus recession on March 23.
- The stock now trades at nearly $ 470 per share.
- Apple's stock is at an all-time high and Wall Street analysts are still quite optimistic that it can continue to rise.
- Apple's market capitalization now eclipses that of other U.S. tech giants, including Microsoft ($ $1.7 trillion), Amazon ($ $1.6 trillion), Google's parent company Alphabet ($ $1.1 trillion) and Facebook ($ $761 billion).
- Apple was also the first U.S. company to reach a market capitalization of $ $1 trillion, which it did just over two years ago on August 2, 2018.
- On July 31, 2020, after reporting solid third-quarter earnings, Apple surpassed Saudi oil giant Aramco to become the world's most highly valued publicly traded company.
SURPRISING FACT
At $ 2 trillion, Apple's market value is now higher than the GDP of several developed countries, including Italy, Brazil, Canada, Russia and South Korea, to name a few.
Apple shares are also about to become more affordable for investors.
Apple has thrived during the pandemic as many people have been forced to stay home. The company has benefited from work-from-home trends and strong online sales.
Source: forbes
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