As per the reports, the market capitalization of Apple Inc crossed the $2 trillion mark on Wednesday.
Now, the Cupertino-based tech giant company’s value worth becomes more than the GDP of a host of countries such as Brazil, Italy, Russia and Canada.
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$2 Trillion Mark Significance
With this achievement, Apple Inc has become the first US company to do so.
Although, the epic moment didn’t last long, as the company’s shares fall back at the end of the session on 19 August and bring the valuation back to under the $2 trillion threshold.
But, this historic achievement marks the success of this major tech that has been able to overcome COVID-19 blues to register growth in the third quarter of this year.
Apple – The Most Valuable Company
Now, Apple is the most valuable company in the world and its shares hs been doubled from March lows and rose to $468.65 level on Wednesday.
With this achievement, now Amazon.com Inc. stands in second place, while the third position is secured by Microsoft Corp with market-caps below $1.7 trillion.
Prior to this, in August 2018, Apple was also the first publicly traded US company to reach a $1 trillion market cap.
Despite the Covid-19 pandemic, the stock has risen over 57 percent in 2020 on booster from the strong forecast-beating earnings.
Now the company is optimistic about its forthcoming 5G iPhone.
Last year, its shares have risen by more than 120 percent.
The iPhone maker has mentioned about the revenue gains across categories and geographies last month.
Thanks to the consumers working and learning from home during the Covid-19 pandemic turned out a positive move for its products and services.
Long And Strenuous Journey
The journey towards $1 trillion goals was not easy as Apple has lost its founder Steve Jobs to cancer in October 2011 when he resigned as the CEO of Apple.
The tech giant was founded by Steve Jobs and Steve Wozniak on 1 April 1976.
Later in 1980, the company decided to go public selling 4.6 million shares at $22 each.
Apple has its landmark achievements such as the launch of Macintosh computer in 1984 and the first iPhone launch in 2007.
Apple’s $2 Trillion Compared To Indian Companies
As of now, top 5 Indian companies as per market cap are:
Reliance Industries: $182 billion
Tata Group: $112 billion
HDFC Bank: $77 billion
Hindustan Lever: $68 billion
Infosys: $54 billion
If we add the combined market cap, then it’s $495 billion, which is less than 25% of Apple’s total market cap.
Shocking indeed!
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