Technology monolith Apple has reached a new milestone that no tech company has achieved before, reaching a market cap of $2 trillion dollars. While coronavirus has decimated other businesses around the world, Apple has seen continuing success despite the pandemic.
Apple was the first publicly trading U.S. company to reach $1 trillion dollars in 2018, and it has only taken two years for the company to double its value. With the worldwide success of Apple’s trademark products such as the iPhone and MacBook and all its accompanying software, the tech giant has become unstoppable on the stock market.
The share price for Apple hit $467.55 a share on Wednesday, August 19, which when multiplied by nearly 4.3 million shares takes the company to its $2 trillion milestone. This positions Apple as the most valuable tech company in the world and places its value as greater than many countries entire economic worth. The company’s leadership under Steve Jobs and current CEO Tim Cook has been attributed to Apple’s current success but it’s likely the pandemic driving up the need for home technology is a factor as well.
Apple is currently preparing to roll its next line of products which is rumored to include a 5G iPhone. The company has risen meteorically since it began with Steve Wozniac and Steve Jobs in a garage and faced multiple bankruptcies. Apple also plans to be a world leader company by becoming carbon neutral by 2030.
The company is currently fighting a lawsuit with Epic Games on anti-trust grounds, which has had large impacts for the popular Fortnite game on mobile. Apple has also banned cloud gaming services such as Stadia and Xbox’s streaming service xCloud, which lends more weight to the idea that Apple is gearing up to launch its own cloud gaming service.
Source: CNET
Image Source: Laurenz Heymann
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