Apple Inc has became the first publicly listed US company to cross the $2 trillion mark. Amazon.com Inc. and Microsoft Corp, comes second as both are having market capital under $1.7 trillion.
The Iphone maker created history on Wednesday’s Wall street when the stock surged up market value beyond $2 trillion before slipping back slightly below that record level.
The stock has increased 60% this year and its at an all-time high. Apple’s current per share is $465 which became more affordable for an average investor to buy apple’s share too. At the end of the month, the company will split the share to one-fourth of the current price which will cut the share price down to $116. The value of the shares will remain the same, the split is only to have more share trading at lower price.
Apple is not the only company in the world to cross the $2 Trillion mark. Saudi Aramco the national oil company of Saudi Arabia in December topped the $2 Trillion mark when it went public. But later dipping in Crude Oil price has pulled down the company’s stock badly.
In spite of the pandemic blow to the US economy, Apple’s revenue grew strong across all category services in this lockdown like Apple Music, iCloud, Apple TV+, and Apple Arcade. There is also growing excitement in between the users about the coming launch of the iPhone 12, which is expected to have 5G connectivity. Apple has pushed its revenue not only in The US but across the Globe.