Apple became the first U.S company with a $2 Trillion Market Capitalization on Wednesday (19th August 2020) as its share price climbed above U.S $467.77. The tech giant joins Saudi Aramco as the only companies to reach a $2 Trillion market value.
Saudi Arabia's state-owned oil company, Saudi Aramco, briefly crossed the $2 Trillion level a few days days after its Initial Public Offering (IPO) in December 2019. Currently, that company is worth U.S $1.82 Trillion. Apple's Market Capitalization has soared by 59%, or U.S $695 Billion this year. Shares have gained 22% since 30th July 2020, when the company reported blockbuster second-quarter earnings and announced a 4-for-1 stock split. Apple reached the $2 Trillion milestone just over two (2) years after becoming the first U.S company to achieve a $1 Trillion Market Capitalization on 2nd August 2018. Since then, Alphabet, Amazon and Microsoft have all joined the ultra-exclusive $1 Trillion club. Both Amazon and Microsoft currently have Market Capitalizations of about $1.6 Trillion while Alphabet is near $1.05 Trillion. The first company in the world to reach a $1 Trillion valuation is state-owned Chinese oil giant PetroChina, which briefly eclipsed the level back in 2017. Apple is expected to release its eagerly-awaited iPhone 12 models in early October 2020, several weeks later than its usual September release, due to COVID-19 related manufacturing delays. The Apple Watch Series 6 and other products may still be released in September 2020. [Source] We are a small operation. If you've found our articles to be informative, please consider supporting us via PayPal or buying us a coffee. Your contribution is incredibly appreciated and goes a long way. Simply sharing our articles also helps us. Sign up for our free WhatsApp Alerts to be notified as soon as we post breaking news. NEW! Check out our Merchandise Store for high-quality t-shirts, hats and more!
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