Apple becomes first company in US to pass $2 trillion in market value
Aug 20, 2020
New York [USA], Aug 20 : iPhone maker Apple stock hit the two trillion dollar mark on Wednesday (local time) before dipping back slightly below the lofty level, making it the first company in the United States to reach that milestone.
Its stock has surged almost 60 per cent this year and is at an all-time high, reports CNN. Apple currently trading at nearly 465 dollars a share is about to become more affordable for average investors to purchase too.
The company's stock will split four-for-one at the end of the month which will cut the price of a single share to about 116 dollars. The value of Apple remains the same since the company will simply have more shares trading at a lower price.
Apple reached the two trillion dollar mark just over two years after passing the one trillion dollar level. It took just five months for the stock to more than double after sinking in March, said CNN.
Apple, like many other tech stocks, has roared back to life in that time even as the economy fell into recession.
Two other US tech giants -- Amazon and Microsoft -- are moving closer to the two trillion dollar mark too. Both are valued at about 1.6 trillion dollars. Google owner Alphabet is also worth more than one trillion dollars.
