Friday, 21 August 2020

Apple's $2 trillion



Apple has today become (19) the first U.S. listed company to reach market value of $2 trillion, amid investor bets that the company will thrive more in the post-coronavirus world.

The company's shares have risen at a rapid pace since the release of the quarterly results in July, which showed iPhone creator Saudi Aramco as the world's most valuable listed company. The company's shares have accumulated a 57% appreciation in value so far in 2020.

The numbers reflect growing investor confidence in Apple's move to rely less on sales of iPhones and other devices and more on services to users.With Amazon, Microsoft and Alphabet worth about $1 trillion or more each, major U.S. technology companies now have a combined value of $6 trillion.

On Wednesday (19), Apple's shares were up around 1 percent at $466.65.



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