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20.08.2020

Apple reaches a $2-trillion market cap

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The giant broke the barrier just when its price rose to $467.77

Stocks impacted: Apple (AAPL)

Apple hit a market cap of $2 trillion on Wednesday to become the first publicly traded U.S. company to reach the milestone. The giant broke the barrier just when its price rose to $467.77 yesterday. But the shares closed the day at $462.83, giving it a market cap of about $1.98 trillion. As a reminder, late last month, the iPhone maker passed the state oil giant Saudi Aramco to become the world’s most valuable publicly traded company. Even during the coronavirus pandemic, the firm blew past Wall Street's expectations for its fiscal third-quarter earnings, reporting revenue of $59.7 billion. Apple’s share price is up around 60% since the beginning of the year. In the past year, stocks have risen more than 120%.

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