For the first time ever, Apple is already worth 2 trillions!
The stock value of Apple doubled itself since March 2020, but it doesn’t show the whole story of the tech giant.
Two years after Apple became the first company to reach 1 trillion, Apple doesn’t stop and now the value of the company passed the 2 trillion mark. This new estimation shows how much the investors trust Apple and its board.
Apple joins to Aramco, the Saudian oil company as the only two companies to cross the 2 trillion mark. But Aramco already manage to lose that title in cross it back down, so now Apple is ranked #1 in estimate value among all the companies in the world.
This new estimation happened after Apple’s stock crossed the $467.77 price a share, but during the trading day the price dropped to $462.83 and that dropped them under 2 trillions.
This new record is surprising because Apple announced back in February that due to the Covid-19 pandemic, Apple might suffer loses.
Since March 23rd, the stock just keeps on rising and almost double itself during this 5 month. This value increment happened Apple announced they had profits of almost 60 Billion dollars in the second quarter, 11% better than q2 of 2019.
But there are other things Apple should focus on, the company now facing some serious legal issues when the European Union found out they keep listening on customers , and that Apple takes 30% commissions on apps.
Also, Tim Cook the CEO of Apple is investigated by the American congress, and the company is investigated for stealing Chinese patent worth 1.4 billion dollars.