It took Apple 42 years to reach $1 trillion in value. It took it just two more years to get to $2 trillion.
Even more stunning: All of Apple’s second $1 trillion came in the past 21 weeks, while the global economy shrank faster than ever before in the coronavirus pandemic.
On Wednesday, Apple became the first U.S. company to hit a $2 trillion valuation when its shares climbed 1.4 percent to $468.65 in midday trading, though they later declined and ended the day flat. It was another milestone for the maker of iPhones, Mac computers and Apple Watches, cementing its title as the world’s most valuable public company and punctuating how the pandemic has been a bonanza for the tech giants.
As recently as mid-March, Apple’s value was under $1 trillion after the stock market plunged over fears of the coronavirus. On March 23, the stock market’s nadir this year, the Federal Reserve announced aggressive new measures to calm investors. Since then, the stock market — and particularly the stocks of Apple, Microsoft, Amazon, Alphabet and Facebook — has largely soared, with the S&P 500 hitting a new high on Tuesday.Continue reading “Apple reaches $2 Trillion dollar valuation”