Apple becomes the first U.S. company to be worth $2 trillion

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In August 2018, Apple became the first of the big tech companies to become valued at $1 trillion after 42 years in existence. Now, just two years after achieving that goal, the firm has become the first to be valued at $2 trillion.
 
The Cupertino firm officially passed the $2 trillion mark just before 11 AM Eastern Time when its stocks rose to $467.77 before falling back to around $465.
 
Apple’s sharp rise in market value comes at a time when it has been forced to shutter stores around the world due to the on-going coronavirus pandemic.
 
At the start of the pandemic, Apple’s share price had slouched to $224 from highs of $324 the month before. As the consequences of the pandemic played out, Apple's stocks began to regain value at a faster pace.

 

Amazon, Microsoft, and Alphabet have all seen sharp rises in their share price since the pandemic began with Amazon leading the pack with a $1.6 trillion market cap. The tech sector has been one of the few that has benefited during COVID-19 as more people are forced to turn to digital solutions to continue working.

Depending on how long COVID-19 plagues societies, we could see the current rate of growth in tech share prices continue long enough for some of the aforementioned firms to hit the $2 trillion mark too.

Read more: https://www.neowin.net/news/apple-become...2-trillion