Share
NEW YORK — Apple is the first U.S. company to boast a market value of $2 trillion, just two years after it became the first to reach $1 trillion.
Apple shares have gained nearly 60% this year as the company overcame the shutdown of factories in China that produce the iPhone and the closure of its retail sales amid the coronavirus pandemic.
The company’s hugely loyal customer base trusts its products so much that they continued to buy iPhones and other devices online while stuck at home. Apple recently reported blowout earnings for the April-June quarter.
An upcoming four-for-one stock split that will make Apple’s shares more affordable to more investors also sparked a rally after it was announced three weeks ago.
Apple has been at the vanguard of a group of Big Tech companies that are increasingly taking over people’s lives — and the stock market. Just five companies — Apple, Microsoft, Amazon, Facebook and Google’s parent company — account for nearly 23% of the S&P 500’s entire value.
Saudi Aramco reached a market value of $2 trillion shortly after becoming a public company in December 2019. The Saudi energy producer’s shares have fallen since amid a drop in oil prices and its market value is now about $1.82 trillion.
Senate Confirms Mehmet Oz to Take Lead of Medicare and Medicaid Agency
3 hours ago
First California EV Mandates Hit Automakers This Year. Most Are Not Even Close
4 hours ago
Pence Will Receive the Profile in Courage Award From the JFK Library for His Actions on Jan. 6
4 hours ago
Pentagon’s Watchdog to Review Hegseth’s Use of Signal App to Convey Plans for Houthi Strike
5 hours ago
President Trump’s Tariffs Could Be the Political Tipping Point
6 hours ago
Order That Kept Water in the Kern River Reversed by 5th District Court of Appeal
6 hours ago
As Dem Candidates for Governor Increase, They Wait for Harris to Decide
6 hours ago
China Halts Approvals for New US Investment Projects
40 minutes ago
Categories

China Halts Approvals for New US Investment Projects

Trump Tariff Fears Erase $2 Trillion From US Stocks

Senate Confirms Mehmet Oz to Take Lead of Medicare and Medicaid Agency

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close
