Apple hits USD 2 trillion mark by doubling valuation in just 2 years

It seems like hitting 2 trillion dollars for Apple was never a really tough job. We have been seeing quite an increment in valuation for Apple since the past two years. However, on Wednesday, it touched the mark of 2 trillion dollars market capital which made Apple the first publicly traded US company to do so.

The exact moment on which Apple touch the mark of 2 trillion dollars was just before 11:00 a.m. ET. Talking about the shares, Apple is currently based on more than 4.275 billion share count. When Apple touched the mark of 2 trillion, the share price rose to around dollar 467.77!

If we go back in history to the date of August 2nd 2018, it was the first time when apple touched the mark of one trillion dollar market. Passing the 2 trillion dollar mark was not a tough deal to crack at least for apple after the company surpassed state oil giant Saudi Aramco to become the most valuable publicly-traded company on 31st July.

After Apple has passed the one trillion dollar mark other companies namely Amazon, Microsoft and alphabet came running into the race.

To be honest, Apple deserves a lot more appreciation to touch the 2 trillion dollar mark amidst the coronavirus pandemic which has severely hit many of the multinational companies. As per this report, Apple shares have risen more than 120% in the past year. The third quarter of the company which was wind up in July has created 59.7 billion dollars in revenue.

These numerical doesn’t mean that the company was not really hit by the pandemic. It is said that Apple saw a very large amount of retail closures in Quarantine. Although, the work from home trend kept the company alive.

It is also said that the company a large number of online sales. The success of Apple can also be the definition of the hard work of CEO Tim Cook. The 33% price earning ratio of Apple have given them the status of a software company rather than a normal Hardware company.

After touching the mark of 2 trillion dollars, the company shares closed at dollar 462.83. The current market capitalization of the company is now about 1.98 trillion dollars.