Apple now a $2tn company

Apple has become the first US company to be valued at $2tn (£1.5tn) on the stock market within two years after becoming the world’s first trillion-dollar company in 2018. Its share price soared to $467.77 on Wednesday midmorning trading to push it over the $2tn mark.  The only other company to reach the $2tn mark was state-backed Saudi Aramco after it listed its shares last December and since then the oil giant’s value has slipped back to $1.8tn.

The American tech giant’s share have leaped more than 50 per cent this year, despite the coronavirus pandemic crisis forcing it to shut retail stores and political pressure over its links to China.

Apple posted strong third-quarter figures towards the end of July, including $59.7bn of revenue and double-digit growth in its products and services segments. Running behind Apple is Amazon which is worth around $1.7tn.

All eyes are now on the eagerly awaited 5G iPhone which will fuel further consumer demand.