Apple is a company that reaches milestones on a semi-regular basis, but sometimes one milestone is bigger than another.
Just over two years ago, Apple reached a major milestone when it reached $1 trillion market capitalization. That happened in early August of 2018. Since then, the company has done well in the stock market. And that includes the latest quarters when the company has been directly impacted by the coronavirus pandemic. The company’s doing well enough, in fact, that the CEO, Tim Cook, recently reached billionaire status.
And now Apple has reached yet another milestone. On Wednesday, August 19, 2020, the company became the first public company to reach $2 trillion market capitalization. And the future is bright for the company, despite hitting some lows in early 2020. The pandemic forced Apple to close all of its physical retail stores in the U.S. (and across the globe, with some exceptions), and that saw the company’s stock price drop to the mid $230s. However, at the time of publication, Apple’s stock has rebounded in a big way and is currently going for almost $500.
The future is bright for the company, as far as the stock market is concerned. Apple has new iPhones on the way, which will certainly boost the company’s stock. However, Apple has already confirmed the new handsets will see a bit of a delay, so consumers will need to wait a bit longer before the new phones arrive.
Market capitalization is seen as the overall value of a publicly traded company. That result is reached because the market cap is the value of a share multiplied by the number of shares.
This is great news for Apple, and for investors, and it looks like the train isn’t slowing down any time soon.