Apple becomes first US two trillion dollar company

19 August 2020, 16:30

Apple has been valued at over two trillion dollars
Apple has been valued at over two trillion dollars. Picture: PA

By Maddie Goodfellow

Apple has become the first US company to boast a market value of two trillion dollars, just two years after it became the first to reach one trillion dollars.

The tech giant's shares have gained nearly 60 per cent 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.

The company's hugely loyal customer base trusts its products so much that they continued to buy iPhones and other devices online while stuck at home.

Apple recently reported blowout earnings for the April-June quarter.

An upcoming four-for-one stock split that will make Apple's shares more affordable to more investors also sparked a rally after it was announced three weeks ago.

Apple has been at the vanguard of a group of Big Tech companies that are increasingly taking over people's lives - and the stock market.

Just five companies - Apple, Microsoft, Amazon, Facebook and Google's parent company - account for nearly 23 per cent of the S&P 500's entire value.

Saudi Aramco reached a market value of two trillion dollars shortly after becoming a public company in December 2019.

The Saudi energy producer's shares have fallen since amid a drop in oil prices and its market value is now about 1.82 trillion dollars.

More Latest News

See more More Latest News

Yvette Cooper vows to crackdown on illegal immigration

Beauty salons and car washes to be targeted in illegal immigration blitz as Home Secretary redeploys Rwanda scheme staff

Sarah Justine Packwood, 54, and her husband, Brett Clibbery, 70.

Mystery as Brit woman and husband attempting to cross Atlantic found dead in lifeboat one month after going missing

Exclusive
Five days of big names: LBC announces guest host week

Five days of big names: LBC announces guest host week

Rachel Reeves

Rachel Reeves vows 'big bang' for pensions as government launches review in bid to boost investment and savings

Amanda Abbington has claimed Giovanni Pernice was 'cruel and abusive'.

Strictly's Amanda Abbington breaks silence over 'cruel' Giovanni Pernice - as first female pro under fire

Donald Trump spoke at a rally for the first time since he was shot in the ear

Donald Trump says he ‘took a bullet for democracy’ at first rally since assassination attempt

A burnt out car in the Leeds suburb of Harehills, after vehicles were set on fire and a police car was overturned as residents were warned to stay home following an outbreak of disorder on Thursday evening. Picture date: Friday July 19, 2024.

Man charged with arson after bus set on fire in Leeds riots over children allegedly removed from local family

Craig Revel Horwood has said the recent allegations have come as a 'shock' to him

Strictly Come Dancing judge Craig Revel Horwood breaks silence after 'shock' of dancing show's abuse allegations

A series of Israeli strikes have been launched against the Houthi-controlled port city of Hodeidah in Yemen

Israel launches series of air strikes on Houthi-controlled city in Yemen day after group claim deadly attack on Tel Aviv

Jay Slater and his mum, Debbie Duncan

Jay Slater's GoFundMe page hits £70k after teen's mum appeals for funeral donations

Holidaymakers have been left stranded during global IT outage

'We're not being given any information': Furious holidaymaker stranded in Rhodes tells of travel hell after IT outage

A burnt out car in the Leeds suburb of Harehills, after vehicles were set on fire and a police car was overturned as residents were warned to stay home following an outbreak of disorder on Thursday evening. Picture date: Friday July 19, 2024.

Further unrest in Leeds as hundreds take to streets to 'demand return of children' allegedly removed from local family

NHS England has warned of "continued disruption" to GP services into next week.

NHS warns of GP disruption after global IT outage as trains, planes and roads remain in chaos leaving Brits stranded

Planes, trains and roads have been hit by travel chaos following Friday's IT outage.

Holiday hell: Trains, planes and roads in chaos after global IT outage - with thousands of Brits stranded abroad

Graham Gomm

Prisoner who escaped custody at HMP Wormwood Scrubs during hospital trip is arrested following manhunt

Charles and Camilla attend the King's Parade outside Pomme d'Or Hotel, Liberation Square in St Helier, Jersey

Charles and Camilla 'rushed to safety by security' after suspect 'spotted on roof' just days after Trump rally shooting