Apple is one of the few companies with a market cap of trillions, which merged on August 2, 2018.
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.
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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.
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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