It has been almost two years since Apple first reached its $1 trillion valuation milestone, but now the company has another to celebrate.
Apple has been reaching record highs recently when it comes to the United States stock market, and that was the case last night, too. Shares are up more than 2% today with the markets now open. And with the latest boost, Apple has become the first U.S.-based company to reach a valuation of $1.5 trillion.
All said, Apple’s valuation reached $1.53 trillion, so it not only reached it, but surpassed it. Apple’s valuation reached the milestone thanks to a current stock price around $352 and 4.3 billion shares outstanding.
It isn’t a surprise that Apple has been scaling back on the total share stock, as the company has been buying back stock in the recent years. That will help boost the value of its remaining shares on the market.
Apple’s stock took a bit of a dive earlier this year, along with many other companies out there in the world, thanks to the global coronavirus pandemic. But things are bouncing back, despite the fact the pandemic is still raging on. So while Apple, and shareholders, are probably happy with the milestone, it does arrive at a gray time.