On Wednesday (August 19), Apple shares rose 1.2% to $467.81, double the low on March 23, breaking a record high of $467.77, becoming the first U.S. company with a market value of more than $2 trillion.
Saudi Aramco, an oil giant, is another listed company with a market value of $2 trillion. The company’s first breakthrough was in December 2019, the day after its initial public offering.
looking back on the history of Apple’s share price, the company was listed in December 1980 at a price of $22 per share, making its market value rise rapidly to nearly $2 billion. Twenty six years later, in May 2007, just one month before the iPhone was launched, its market value reached $100 billion. In May 2010, apple surpassed Microsoft to become the company with the highest market value of $222.1 billion. In 2012, its market value soared from $400 billion in January to $600 billion in April. In August 2018, the company became the first U.S. company with a market value of $1 trillion. Since then, the parent company of Amazon, Microsoft and Google, alphabet, has also broken the $1 trillion threshold.
on August 24, 2011, when Tim Cook, the current CEO, took over apple, the company’s market value was only $348.8 billion. Cook expanded Apple’s footprint in China and relied on its service businesses, from app stores to Apple Music, to achieve steady growth, dispelling concerns that apple is too dependent on the iPhone.
in the epidemic, with more and more people working from home, the market demand for the company’s equipment tends to be stable, and the performance of its core business iPhone is better than expected. In the second quarter, sales rose 11% from a year earlier to nearly $60 billion, exceeding Wall Street’s expectations. Profits soared to $11.25 billion. Nick giacoumakis, President of New England Investment & amp; retirement group, said: “it’s amazing that such a large company can grow so fast.” “I will never underestimate their ability to innovate.” Jim Boothe, chief investment officer at brentview investment management, said the company’s latest results showed that it was less dependent on iPhone growth. “It has become more like an ecosystem.” “Customers are willing to pay for their quality products.”
and analysts believe that as technology stocks soar, other tech giants will soon join the $2 trillion club. The growth of e-commerce and cloud computing has brought the market value of Amazon and Microsoft to $1.6 trillion. The market value of alphabet is about $1 trillion, and that of Facebook Inc. is about $760 billion.
the dominance of technology is also under scrutiny by more and more regulators. This trend may prevent the industry from booming, but it can’t stop investors from favoring technology stocks. In late July, U.S. congressmen asked cook and the chief executives of Amazon, Facebook and alphabet about their business practices and leading industry status.
some analysts are concerned that apple and other tech giants are vulnerable to reversal as their share prices soar. But many investors say there is no attractive alternative to holding large technology stocks because interest rates in developed countries are close to zero or below, and most companies are struggling with the coronavirus crisis. After 12 years, “world class Super project” Shantou Bay Tunnel ushers in a historic breakthrough today