Apple Inc Become The First Company To Make Into The List
During the pandemic, apple shares its good news from wall street. Apple shares have gained nearly 60% this year as the company overcame the shutdown of factories in China that produce the iPhone and the closure of its retail sales amid the coronavirus pandemic. By the mid-2020 they become listed in the US companies with 2 trillion dollars stock market value. And also Apple Inc became the first publicly listed U.S. company with a $2 trillion stock market value on Wednesday, as Wall Street investors put aside challenges to its iPhone ecosystem in favour of bets it will only prosper more in the post-coronavirus world. Apple’s shares rose as much as 1.4% at $468.63 on Wednesday.
Apple’s revenue grew across every category and all of its geographical regions in the June quarter, even as the coronavirus crisis caused the U.S. economy to collapse at its worst rate since the Great Depression. Shares in the company have surged since quarterly blowout results in July that saw the iPhone maker eclipse Saudi Aramco as the world’s most valuable listed company, up about 57% in value so far in 2020.
The moves reflect growing investor confidence in the company’s change towards relying less on sales of iPhones and other gadgets and more on services for its users, as well as a broad change by big institutional investors during the coronavirus crisis.
With Amazon, Microsoft and Google-owner Alphabet, all now worth around $1 trillion or more, the big U.S. tech companies are together worth more than $6 trillion.
Cupertino, California-based Apple surprised Wall Street as it was able to get loyal shoppers to buy iPhones, iPads and Macs online even as several brick-and-mortar stores remained closed due to the coronavirus lockdowns. Started in the garage of co-founder Steve Jobs in 1976, the company has pushed its revenue beyond the economic outputs of Portugal, Peru and other countries.