Apple became the first public company in the United States, the capitalization of which exceeded the $2 trillion mark.
Apple shares in the course of trading reached $468.09. As of 18:50, the price of the securities was $466.81.
Two years ago, the company's market value for the first time rose above $1 trillion вЂ” here Apple also became the first.
Since the beginning of this year, Apple shares have risen 60%. The company's shares should close on Wednesday at $ 467.77 and above for the company's capitalization to exceed $2 trillion at the close of the market, MarketWatch writes.
Apple shares fell sharply in February-March due to the coronavirus pandemic and reached a local low on March 23, after which they resumed growth. Their value has doubled since then.
Demand for Apple devices, including iPhones, remains robust despite concerns that it could decline at a time when millions of Americans are forced to work from home due to the pandemic.
Increased consumer dependence on technology supports the growth of Apple and the rest of the major Internet companies, including Amazon.com Inc., during the pandemic, The Wall Street Journal writes. At the same time, other areas of business вЂ” from energy to tourism вЂ” are suffering serious losses due to the fall in demand for many services as a result of the crisis caused by the coronavirus, which has already provoked a wave of bankruptcies.
The tech sector is one of the few that is expected to grow in the coming years, experts say.
The fact that Apple's capitalization has surpassed the $2 trillion mark is a credit to the company's CEO Tim Cook, who replaced Apple founder Steve Jobs in 2011. Cook expanded Apple's presence in China, as well as focused on the development of various services.
Even during the pandemic, the company was able to increase sales: its revenue in the third financial quarter ended June 27 of this year increased by 11%, amounting to about $60 billion.
Experts expect other tech companies Amazon and Microsoft Corp. to join Apple in the club of companies with capitalization above $2 trillion. The market value of Amazon is currently $1.66 trillion, Microsoft is $1.6 trillion.