Apple Reaches $2 Trillion Worth
Hülya Karahan: Production editor
In 2018, Apple was the first American company to reach $ 1,000 trillion in market capitalization – and on Wednesday, the technology giant was also the first reaches $2 trillion
Before Apple reached today’s milestone, Saudi oil giant Aramco was the only one to have a similar valuation.
It happened in December last year – the day after the oil giant had been listed on the stock exchange.
The tech giant’s share has climbed over 60 percent since the turn of the year. Next week, the company will make its fifth share split, as each share turns into four.
It is only four years ago that Apple was valued at half; that is, $ 1 trillion.
Now the market is waiting for Apple’s biggest upgrade in many years, as there is much to suggest that their first 5G mobile will be introduced.
According to Business Insider, one of the main reasons for Apple’s straight financial curve is that the company has clearly shown that it is much more than one that deals with mobile telephony. The services segment is likely to be a key in this upgrade. Apple is thus no longer seen as just a hardware company.
According to the Factset database, Services is also expected to continue its strong growth in the coming years.
At the same time, Apple has withdrawn more than 47,000 apps from the Chinese app store in the past month. This is in line with policy changes.
Apple will now eliminate a loophole that has allowed games to be sold on the platform even before approval was obtained from Chinese regulators.
In the morning, American time, Apple had risen just over 1.0 percent on Wall Street and was then trading at 467.02 dollars per share. Seen throughout the year, Apple’s share is up around 60 percent.
Despite the fact that many industries have been hit hard by the corona pandemic, home jobs and social distancing have meant that technology giants such as Apple have instead reported strong figures in this summer’s interim reports.
Apple is the second company to reach such a high market capitalization after the Saudi oil group Aramco reached reaches $2 trillion in December last year. Since then, however, Apple has overtaken Aramco as the world’s most valuable company.
Apple’s worth has eclipsed that of other big tech firms. Amazon’s market cap is about $1.7 trillion, Microsoft $1.6 trillion and Google parent Alphabet $1 trillion. They’ve left other corporate giants in the dust. Walmart is valued at $381 billion, JPMorgan Chase $300 billion and Exxon Mobil $179 billion.
Apple is worth $ 2,000 billion - /10
Apple the technology giant the first to reach $ 2,000 billion.