Apple becomes The First $2 Trillion Company Amidst The Global Coronavirus Pandemic

On Thursday, Apple: The first $2 Trillion company leaves the world in shock. It has a rise in its share price. This pushes the company beyond its past landmark valuation. Steve Jobs was the founder of this majestic iPhone to iMac selling company. This was in 1976 when the tech giant first came into being. Ever since then it reaches and crosses all milestones making a historical record this Thursday. Its shares reached $207.05 dollars after it posts strong financial results. The share price of Apple saw a drastic change after Tim Cook replaces Steve Jobs. Tim Cook becomes the chief executive of Apple in 2011.

Apple: The First $2 Trillion Company

Rich search results on Google when searched for "Apple a trillion dollar company"
Apple becomes the first trillion dollar company. Image Source: The Drum

After 42 years ever since the company comes into being Apple makes history. It reaches a $1 trillion capitalization market. This was also 117 years after US Steel becomes the first $1 billion company in 1901. This basically means that the company has a larger stock market value than the economies of Switzerland and Turkey. Its value is also one-third of the size of the UK economy alone.

The quarterly financial results powers the share price rise this week. The announcement of the results was done on Tuesday. Surprisingly, this was better than the expectation of Wall Street. Luca Maestri, the finance chief says, “ Apple’s growth was strong all around the world”. In three months the profits of the company rack up to $11.5 billion.

Their highest record sales hit $53.3 billion. This pushes up the shares of iPhones and eases the company value. It rises from $935 billion to $1 trillion. Apple says the initiative of stock split makes it easier for investors to buy shares. Apple reaches a highly symbolic milestone.

Apple’s Shares Rises Amidst Coronavirus

Rich search results on Google when searched for "Apple a trillion dollar company"
Sales rise amidst coronavirus. image Source: Financial Times
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Amidst the coronavirus pandemic, Apple is worth twice as much. The recent performance of the company has left its rivals dumbstruck. Facebook was always in contrast in terms of the financial figures with Apple. However, there was a crisis last week making the worst day for Facebook. It suffered a huge loss in the US stock market. The loss was more that $120 billion and its stock value drops by about 20%.

Amazon was also left behind considering its high sales and profits last week. It is the second most likely company to reach the $1 trillion mark. Amazon now values $883 billion. Alphabet, the parent company of Google values $845 billion.

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