Apple Reaches $2 Trillion Valuation as First U.S. Company
Apple reaches a historic $2 trillion market value, becoming the first American publicly traded company to achieve this milestone. The tech giant doubles its valuation just two years after crossing the $1 trillion mark.
Apple hits a $2 trillion market value, making it the first publicly traded U.S. company to reach this historic milestone. The iPhone maker achieves this feat just two years after first crossing the $1 trillion threshold. Apple stock climbs nearly 60 percent this year and helps propel the S&P 500 index to a new record high.
The coronavirus pandemic significantly boosts Apple's fortunes as people rely heavily on technology for work, school, and entertainment. Even though Apple shuts down retail stores and faces supply chain disruptions, its sales surge. Consumers buy iPhones, iPads, and Mac computers in large numbers while also subscribing to Apple services like streaming music and TV.
Apple's massive valuation now eclipses other major technology firms in the United States. Amazon holds a market cap of about $1.7 trillion, Microsoft sits at $1.6 trillion, and Google parent Alphabet stands at $1 trillion. These tech giants leave traditional corporate titans far behind, with Walmart valued at $381 billion, JPMorgan Chase at $300 billion, and Exxon Mobil at just $179 billion.