The iPhone maker’s stock hit the $ 2 trillion mark on Wednesday. Shares have increased by almost 60% this year and are at a very high level. Call (AAPL), which is currently trading at almost $ 470 per share, is also becoming more affordable for average investors to buy.
The company’s stock will split four-by-one at the end of the month, which will cut the price of a single stock to about $ 117. Apple’s value will remain the same, as the company simply shares more will have to trade at a lower price.
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 about $ 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 the company he leads.
The market has raised concerns that lawmakers have about the exclusion 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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