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Apple becomes first US company to reach a $2 trillion market cap

Apple: On 19th August 2020( Wednesday), Apple hit the market cap by reaching a $2 trillion. In just over two years, they have become the first publicly traded US company to reach the milestone.

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Just before 11.am on Wednesday, Apple broke the barrier of the share count of more than 4.275 billion. As the day passed, a below $2 trillion dip was seen by Apple and it shared closed at $ 462.83, with a market cap of about $ 1.98 trillion.

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On 2nd August 2018, they reached a $1 trillion market cap. Wall Street is largely expecting that the iPhone maker company Apple will be the first to cross over $2 trillion.

On 31st July 2020(Friday), The iPhone maker company also passed the oil giant Saudi Aramco to become the world’s most valuable publicly-traded company.

Also, some other tech giant companies like Microsoft, Alphabet, and Amazon soon matched with Apple by reaching on $1 trillion market cap.

In the past year, the shares have raised more than one hundred twenty percent. The Coronavirus epidemic had battered and even ruined many companies including that the Apple shares are high about 60 percent wear to date.

This year in late July, the company posted a historically strong third quarter which includes revenue of $ 59.73 and double-digit growth in its services and products. The efficiency in work from home strategy and the strong online sales boosted the entire operations as during the quarter, Apple has observed a widespread retail closure during the quarter.

They have an increasingly rising price – earning ratio that is now more than 33, which indicates that now the investors see the iPhone maker company as a software company and not like other hardware makers.

Also, read What is stock broking and why Paytm and others startups are turning towards it?