The stock, currently trading at about $ 473 per share, is also becoming more affordable for average investors to buy.
Apple’s stock will split four-for-one at the end of the month, which will reduce the price of a single share to about $ 118. Apple’s value will remain the same, as the company will have just traded more shares at a lower price.
Apple reached the $ 2 trillion mark in just over two years after passing the $ 1 trillion level. It took just five months for the stock to more than double after sinking in March. Apple, like many other tech stocks, lived back in those days – even when the economy fell into recession.
It is not the first company in the world to be so highly valued. Saudi Aramco topped that mark in December when it went public, but falling oil prices have hurt the company’s share. Apple went through Saudi Aramco earlier this month after reporting strong revenue.
Two other American tech giants – Amazon (AMZN) en Microsoft (MSFT) – get closer to the $ 2 trillion mark as well. Both are valued at over $ 1.6 trillion. Google Owner Alphabet (GOOGL) is also worth more than $ 1 trillion.
Apple’s success has also propelled CEO Tim Cook into the ranks of billionaires – one of the few CEOs to reach that level without having started with the company he leads.
The market has raised concerns about lawmakers’s concerns about the outcome of Apple and other major tech giants – as well as concerns about how some of President Trump’s immigration policies will hurt Apple and other major tech companies.
Investors are in love with Apple because of increasing sales for subscription services such as Apple Music, iCloud, Apple TV + and Apple Arcade. There is also growing excitement about the impressive launch of the iPhone 12, which is expected to have 5G connectivity.
Apple – and other top techs for that matter – are also holding up much better than many other companies during the global recession brought on by the Covid-19 pandemic.
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