Apple is now the first American company to hit a $2 trillion market cap. The pandemic-defying performance of the iPhone maker is an arbitrary milestone, but it remains important. Apple has also reached a market cap of $ 1 trillion only two years ago, essentially doubling the value of the company in just over 24 months.
Apple is not the world's first company to achieve the benchmark of $2 trillion. Saudi Aramco, Saudi Arabia-based gas and oil giant, did this for the first time. In December 2019, Aramco scored briefly 2 trillion dollars but since then, its share price wavers have been falling below that.
As the most valuable company in the world on 4 August 2020 Apple surpassed it.
Currently, Apple 's share has reached a $467.77 mark, which gives the Financial Times a value of $2 trillion. But in the future, they may well fall under that.
Actions in Apple have been tearing for years, but in 2020 their performance was particularly good, with a gain of over 50%, despite the COVID-19 disarray. The Wall Street Journal reports that the company has averaged 3.5% each week since the beginning of June.
In July, the company recorded record sales and a total of 59,7 billion dollars in revenue, up 11 percent on the same quarter last year. And its share price has risen significantly following its most recent profit report.
However, while revenue is booming, Apple faces a series of regulatory headwinds in relation to the application ecosystem that backs its hardware. Of those, the most noteworthy is Fortnite creator Epic Games's legal challenge, which is currently suing Apple for kicking Fortnite out of iOS after Epic attempts to circumvent the payment systems of Apple. One of Epic's complaints is that the 30% cut in transactions by the company is extorting.
In addition to Apple's increased revenue from services and its plans to launch various subscription bundles later this year, this shows how the future of iPhone makers is dependent not only on its hardware, but on customer loyalty-conscious software. The $1 trillion iPhone has Apple. Probably, the services have 2 trillion dollars. What can it keep? What can it keep?
