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Lifestyle Uganda > Blog > Business > Apple Became the First American Company to Hit the 2 Trillion Market Cap
BusinessMoney & FinanceNews

Apple Became the First American Company to Hit the 2 Trillion Market Cap

Lifestyle Uganda
Last updated: 23rd August 2020 10:56 am
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Lifestyle Uganda
ByLifestyle Uganda
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apple hits 2 trillion market cap
Apple reached a new record high of $2 trillion market cap. PHOTO via @PSV
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Apple is one of the few companies with a market cap of trillions, which merged on August 2, 2018.

apple hits 2 trillion market cap
Apple reached a new record high of $2 trillion market cap. PHOTO via @PSV

Apple became the first publicly-traded company to reach the $2 trillion market cap. The first U.S. to break the $1 trillion ceilings. 

  • Apple grew globally, overtaking Saudi Aramco as the most valuable company in the world.
  • Apple is one of the few companies with a market cap of trillions, which merged on August 2, 2018.
  • The direction of Tim Cook, the company’s CEO, is also responsible for Wall Street’s high expectations.
  • Click here to read more on Lifestyle UG.

It comes after two years as a Silicon Fence company. In two years, Apple has already doubled its massive rating.

What is the market cap?

Market capital, abbreviated for market capitalization, refers to the total value of a company’s outstanding shares. You can calculate this value by multiplying the number of shares by the market price.

11 a.m. Eastern time, Apple’s price reached a daily high of $467.77. During this time, with about 4.275 billion shares, the market cap reached a new record high. But the new record did not last long.

A few hours later, the price dropped to $462.83, bringing the market cap back to the highs. However, as the market approached, the company attracted $1.98 trillion. Apple is one of the few companies with a market cap of trillions, which merged on August 2, 2018.

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Soon, Amazon, Microsoft and Alphabet matched Apple’s cap. But in the following years, Apple grew globally, overtaking Saudi Aramco as the most valuable company in the world.

Apple & the 2 trillion market cap

Now, Apple is enjoying more sales and investor enthusiasm. Coronavirus infection has sent laptops, desktops and cell phones with a demand for skyrocketing.

People need devices to work from home, study and stay connected with loved ones. This optimistic environment has boosted investor enthusiasm.

The direction of Tim Cook, the company’s CEO, is also responsible for Wall Street’s high expectations. By leading the company towards a software hub, Apple has set itself apart from other hardware companies in the technology space. Investors are also excited to see the company expand its Apple Arcade site.

With a 60% year-on-year increase in stock prices and a large market cap, it looks like Apple will be a great investment in the years to come.

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See related Lifestyleug.com coverage: 

TikTok Parent Company Byte Dance Interested in Microsoft Buy Offer http://lifestyleuganda.com/tiktok-parent-company-byte-dance-microsoft-buy-offer/

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Microsoft Teams Announces Exciting New Features to Add to Its Platform http://lifestyleuganda.com/microsoft-teams-announces-exciting-new-features-to-add-to-its-platform/

Microsoft Discontinues Its Gaming Streaming Service, Mixer http://lifestyleuganda.com/microsoft-discontinues-gaming-streaming-service-mixer/

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