Apple Became the First American Company to Hit the 2 Trillion Market Cap

Apple is one of the few companies with a market cap of trillions, which merged on August 2, 2018.

apple hits 2 trillion market cap
Apple reached a new record high of $2 trillion market cap. PHOTO via @PSV

Apple became the first publicly-traded company to reach the $2 trillion market cap. The first U.S. to break the $1 trillion ceilings. 

  • Apple grew globally, overtaking Saudi Aramco as the most valuable company in the world.
  • Apple is one of the few companies with a market cap of trillions, which merged on August 2, 2018.
  • The direction of Tim Cook, the company’s CEO, is also responsible for Wall Street’s high expectations.
  • Click here to read more on Lifestyle UG.

It comes after two years as a Silicon Fence company. In two years, Apple has already doubled its massive rating.

What is the market cap?

Market capital, abbreviated for market capitalization, refers to the total value of a company’s outstanding shares. You can calculate this value by multiplying the number of shares by the market price .

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11 a.m. Eastern time, Apple’s price reached  a daily high of $467.77. During this time, with about 4.275 billion shares, the market cap reached a new record high. But the new record did not last long.

A few hours later, the price dropped to $462.83, bringing the market cap back to the highs. However, as the market approached, the company attracted $1.98 trillion. Apple is one of the few companies with a market cap of trillions, which merged on August 2, 2018.

Soon, Amazon, Microsoft and Alphabet matched Apple’s cap . But in the following years, Apple grew globally, overtaking Saudi Aramco as the most valuable company in the world.

Apple & the 2 trillion market cap

Now, Apple is enjoying more sales and investor enthusiasm. Coronavirus infection has sent laptops, desktops and cell phones with a demand for skyrocketing.

People need devices to work from home, study and stay connected with loved ones. This optimistic environment has boosted investor enthusiasm.

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The direction of Tim Cook, the company’s CEO, is also responsible for Wall Street’s high expectations. By leading the company towards a software hub, Apple has set itself apart from other hardware companies in the technology space. Investors are also excited to see the company expand its Apple Arcade site.

With a 60% year-on-year increase in stock prices and a large market cap, it looks like Apple will be a great investment in the years to come.

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