Apple becomes 1st US company to hit $2-T market cap

Apple becomes 1st US company to hit $2-T market cap

WASHINGTON – Apple became the first publicly traded US company to hit a USD2 trillion market capitalization Wednesday after its share price exceeded USD467.97.

The milestone comes two years after the tech company hit USD1 trillion. Apple surpassed Saudi Arabia’s Aramco on July 31 to become the most valuable publicly-traded company.

Apple’s stock has bounced back strongly following a dip in March caused by the coronavirus pandemic. It now has more than doubled its March low on strong demand even as the global economy remains in tatters.

Wall Street has been undeterred, however, posting new highs in recent weeks, particularly among big tech companies.

Apple’s stock price exceeded USD468 in mid-day trading. (Anadolu)