Apple becomes first U.S. company to reach $2 trillion
The iPhone and its related products maker, which nearly went bankrupt, back in the 1990s, is now the most valuable tech company on the planet. It is now the first ever U.S Company to reach a $2 trillion market cap.
Not long ago, Wall Street investors pushed Apple to a trillion-dollar market capitalization, making it the most valuable tech company in the world. Now, even in the face of a pandemic, the market says Apple is worth twice as much.
At around 7:53 a.m. on Wednesday, Aug. 19, Apple’s stock hit $467.55 per share, which when duplicated by the about 4.3 million offers extraordinary, values Apple at $2 trillion, plus or minus a couple of dollars. The move preceded the company’s arranged stock split on Aug. 24, which will increase the quantity of offers by four and gap each offer’s an incentive by four.
Apple said it started the stock split to make it simpler for additional individuals to purchase partakes in the company.
The achievement is greatly symbolic, and very much admirable. Still, it highlights Apple’s unlikely rise from nearly bankrupt in 1997 to the titan of the Tech industry today. Clearly, its leadership is awesome. (People like Steve Jobs, the company’s late co-founder and CEO, former design chief Jony Ive and current CEO Tim Cook)