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The iPhone maker’s stock briefly hit the $ 2 trillion mark on Wednesday. Stocks have jumped almost 60% this year and are at an all time high. Apple (AAPL), which is currently trading at nearly $ 470 a share, is poised to become more affordable for average investors.
The company’s shares will be split four-for-one at the end of the month, reducing the price of a single share to around $ 117. Apple’s value remains the same since the company will simply have more shares traded at a lower price.
It’s not the first company in the world to be so valued. Saudi Aramco surpassed that bar in December when it went public, but falling oil prices hurt the company’s shares. Apple overtook Saudi Aramco earlier this month after reporting strong earnings.
Two other American tech giants – Amazon (AMZN) and Microsoft (MSFT) – are also approaching the $ 2 trillion mark. Both are valued at around $ 1.6 trillion. Google owner Alphabet (GOOGL) is also worth over $ 1 trillion.
Apple’s success has also propelled CEO Tim Cook into the billionaire ranks – one of the few CEOs to reach this level without having started the company he runs.
The market has swept aside concerns from lawmakers about the influence of Apple and other big tech giants – as well as concerns about how some of President Trump’s immigration policies will hurt Apple and other big tech giants. other big tech companies.
Investors are in love with Apple due to the surge in sales of subscription services like Apple Music, iCloud, Apple TV +, and Apple Arcade. There is also growing enthusiasm about the imminent launch of the iPhone 12, which is expected to have 5G connectivity.
Apple – and other cutting-edge technologies for that matter – are also holding up much better than many other companies during the global recession caused by the Covid-19 pandemic.
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