Apple is now worth more than $2 trillion

0
1
blank

Apple is now worth more than $2 trillion, making it the first company in the United States to reach that milestone. The iPhone maker’s stock briefly hit the $2 trillion mark Wednesday. Microsoft is at $1.64 trillion and Amazon is at $1.62 trillion. Google is over $1 trillion. Apple is currently trading at nearly $470 a share. It took Apple 42 years to reach $1 trillion in value but it took it just two more years to get to $2 trillion.

blank

The company’s stock will split four-for-one at the end of the month, which will cut the price of a single share to about $117. The value of Apple remains the same since the company will simply have more shares trading at a lower price. It’s not the first company in the world to be valued that high. Saudi Aramco topped that mark in December when it went public, but plunging oil prices have hurt the company’s stock. Apple’s success has also vaulted CEO Tim Cook into the ranks of billionaires. Apple’s shares performed particularly well in 2020, gaining by more than 50 percent, despite the disarray caused by COVID-19. Apple’s rapid rise to $2 trillion is particularly astonishing because the company has not done much new in the past two years, after decades of innovation. Mr. Cook has built a sophisticated global supply chain to produce billions of devices, most assembled in China. “Our products and services are very relevant to our customers’ lives and, in some cases, even more during the pandemic than ever before,” Luca Maestri, Apple’s finance chief, said recently in an interview.