Apple reaches $2 trillion market value as tech fortunes soar

Apple is the first U.S. to claim a market value of $ 2 trillion The company has become as technology is reshaping a world where smartphones are like appendages and digital services are like devices that make people’s lives happy.

The iPhone maker reached a $ 2 trillion milestone in early stock market trading on Wednesday when its shares surpassed $ 467.77.

The stock later closed at $ 462.83, but it was not a notable achievement, the first U.S. run by Apple with a $ 1 trillion market value. It came two years after the company was formed. It comes amid a devastating epidemic that has transformed the economy into a deep recession and has caused the unemployment rate to rise to the worst levels of the Great Depression nearly a century ago.

But Apple and other well-established tech giants such as Microsoft, Google, Amazon, Facebook, and Netflix have thrived during the turmoil as the epidemic has caused millions of people to work, attend classes, shop, and entertain at home. Is forced to do. In turn, this has made the technology even more important, a factor that has held investors back from holding shares of the industry’s biggest players, as well as relative newcomers, such as the video conferencing service Zoom. Shares have fallen. this year.

Apple’s stock has climbed by nearly 58% this year. In recent weeks, the rally has been aroused by excitement over the four-to-one stock split that Apple announced late last month in an effort to make its shares more affordable to a wider swath of investors.

The broad uptick in tech stocks has also helped the benchmark S&P 500 index reach new heights after declining earlier in the year. Alphabet accounts for about 23% of the entire value of the S&P 500, the parent company of Apple, Microsoft, Amazon, Facebook, and Google.

Apple is not the first company in the world to reach a market value of $ 2 trillion. The award belongs to energy producer Saudi Aramco, which received it in December 2019. Saudi Aramco now surpassed Apple with a market value of $ 1.8 trillion.

Now that technology has clearly become the 21st-century oil, other industry leaders may soon join Apple in the $ 2 trillion clubs, it is now clear that technology has become the 21st-century oil. Many industry analysts predict that Amazon, Microsoft, and Alphabet may also achieve milestones in the coming months.

But regulators and lawmakers noted allegations that Apple, Amazon, Google, and Facebook were illegally abused to provoke investors to stall their competition if their investigation results in moves that would lead companies to Reduces profits.

Not all technology companies are doing as well as they were before the epidemic. For example, Google faced a decline in revenue in the first quarter from the previous year in its history in the April-June period, as most of its profits from advertising sales were in the U.S. Across the epidemic-driven lockdown occurred.

But Apple has performed exceptionally well, buoyed by the timely April debut of a new iPhone model priced at $ 400, 40% to 60% lower than the radical devices it released last fall. did. The company will face another litmus test in October when it is expected to unveil a line-up of new iPhones capable of connection over the next generation of ultrafast wireless networks known as 5G Model is also included.

The next wave of high-priced iPhones arriving a few weeks later than usual due to production delays due to the epidemic, Apple is expected to test the depth of customer loyalty as well as how much people spend during hard times People outside the technology industry are willing to.

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