Apple CEO, Tim Cook opens the door of the newly renovated Apple Store at Fifth Avenue on September 20, 2019 in New York City.
Kena Betancur | AFP | Getty Images
Apple hit a market cap of $2 trillion Wednesday, doubling in valuation in just over two years. It's the first publicly traded U.S. company to reach the $2 trillion milestone.
Apple's share price hit $467.77, which pushed it over a $2 trillion market cap just before 11 a.m. ET. It hit the $2 trillion mark with a share price of $467.77 based on an outstanding share count of 4,275,634,000 shares.
Apple first reached a $1 trillion market cap on Aug. 2, 2018. Wall Street has largely expected Apple to be the first to surpass the $2 trillion mark. On July 31, Apple surpassed the state oil giant Saudi Aramco to become the world's most valuable publicly traded company.
It didn't take long for other tech giants to match Apple's $1 trillion market cap. Today, Amazon, Microsoft and Alphabet all have market caps above $1 trillion.
Apple shares are up 59.24% year-to-date, pushing through the pandemic that's battered many companies. In the past year, shares have risen 122.3%.
The company posted a historically strong third quarter late July, including $59.7 billion in revenue and double-digit growth in its products and services segments. Apple saw widespread retail closures during the quarter, especially in the United States, but touted both work-from-home trends and strong online sales as delivering a boost to overall operations.
"first" - Google News
August 19, 2020 at 09:50PM
https://ift.tt/34eA8t9
Apple becomes first U.S. company to reach a $2 trillion market cap - CNBC
"first" - Google News
https://ift.tt/2QqCv4E
https://ift.tt/3bWWEYd
Bagikan Berita Ini
0 Response to "Apple becomes first U.S. company to reach a $2 trillion market cap - CNBC"
Post a Comment