iPhone maker Apple has become the first company in the world – this year – to reach a market value of US$2 trillion.
Reaching the $2 trillion mark during Wednesday’s stock market trading in the U.S., the milestone was reached when Apple shares moved past $467.77.
And, although the closing price of the stock later dipped to $462.83, a new global benchmark has been set for 2020 – two short years after the same company was the first in the U.S. to reach the $1 trillion market value point.
A number of large, primarily U.S. based giants of technology such as Amazon, Facebook and Google have been quick to cash in on the current global downturn caused the the ongoing COVID-19 pandemic, with arguably the most popular standout in recent months the Zoom video conferencing service.
Back with the company in the spotlight today, Apple stock has climbed over 57% in the year to date helped by moves to make its stock available to smaller shareholders in recent weeks.
Yet, even with the benchmark set so high, Apple is not the first company in the world to reach the coveted market calue of US$ 2 trillion.
That badge of merit goes to Saudi Aramco who hit the mark in December, 2019, just prior to the pandemic taking effect, although the limits on travel and global lockdowns that caused oil prices to plummet in the spring have now seen its market value decline to a ‘mere’ US$ 1.8 trillion.
And next up according to analysts? Perhaps, Amazon, Microsoft is a possibility and Alphabet too.
All are predicted to blitz the $2 trillion mark eventually, it is only a matter of time as to when they do.