On August 19, Apple successfully became the first US-owned country to rake in a valuation of $2 trillion. Yes, you read it right! Apple’s stock tops $2 trillion, the another trillion added in just two years. Hitting this stage of success amidst a global pandemic is surely praiseworthy.
Apple
The iPhone making company has always been prospering. But the company took more than 40 years to reach its first trillion. And now, Apple successfully reached the second trillion, making it the first company in the US to do so.
Apple had just left behind Saudi Aramco to become the world’s most valuable company at the beginning of August.
The rise in Apple’s shares
To begin with, Apple sales did not take a hit amidst the global pandemic this year. Instead, Apple benefitted from the growing surge in technological and digital services. During this time, only iPhone sales alone accounted for 45% increase this year, leading to the company’s 14% revenue increase. The company’s CEO, too, was surprised by the impact that Apple products had in the lives of their customers. So undoubtedly, corona played a major role in ‘Apple’s stock tops $2 trillion’.
Just on August 19, Apple registered a $468.65 increase in the company’s shares. And as of now, Apple’s stocks are already 57% high in 2020 alone, even during a pandemic. Apple has also started shifting more importance towards music and other digital services- to suit the people in quarantine. This is a very good step taken by the company as users of digital services are increasing at a substantial rate during these days.
Close competition
Although Apple’s stock tops $2 trillion is the first company to do so in the US, in terms of the whole world, it is Saudi Aramco. Saudi Armco is a Saudi Arabian oil company that was recently thwarted by Apple as the world’s most valuable company. But Saudi Aramco already surpassed the $2 trillion mark back in December. If not for the pandemic and some internal conflicts, Saudi Aramco might still have been the world’s most valuable company. But then the pandemic is working wonders for Apple and who knows, maybe Apple will soon leave behind Saudi Aramco to have the highest valuation in the world.
In terms of the most valuation in the US, Apple is closely followed by Amazon and Microsoft, both raking in $1.6 trillion.
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