Apple passed $2 trillion in market value

Among its many accomplishments — the iPhone, the iPad, iTunes, the App store — Apple can now boast of one more: It was briefly worth more than $2 trillio...

Posted: Aug 19, 2020 11:44 AM
Updated: Aug 19, 2020 4:15 PM

Among its many accomplishments — the iPhone, the iPad, iTunes, the App store — Apple can now boast of one more: It was briefly worth more than $2 trillion, making it the first company in the United States to reach that milestone.

The iPhone maker's stock hit the $2 trillion mark before dipping back slightly below that lofty level. Shares finished the day flat Wednesday. The stock has surged almost 60% this year and is at an all-time high. Apple, currently trading at nearly $465 a share, is about to become more affordable for average investors to purchase, too.

The company's stock will split four-for-one at the end of the month, which will cut the price of a single share to about $116. The value of Apple remains the same since the company will simply have more shares trading at a lower price.

Tesla also recently announced a stock split -- a move that could attract more millennial and Gen Z investors.

Apple reached the $2 trillion mark just over two years after passing the $1 trillion level. It took just five months for the stock to more than double after sinking in March. Apple, like many other tech stocks, has roared back to life in that time — even as the economy fell into recession.

It's not the first company in the world to be valued that high. Saudi Aramco topped that mark in December when it went public, but plunging oil prices have hurt the company's stock. Apple passed Saudi Aramco earlier this month after reporting strong earnings.

Two other US tech giants -- Amazon and Microsoft -- are moving closer to the $2 trillion mark too. Both are valued at about $1.6 trillion. Google owner Alphabet is also worth more than $1 trillion.

Apple's success has also vaulted CEO Tim Cook into the ranks of billionaires -- one of the few CEOs to reach that level without having started the company he leads.

The market has brushed aside concerns that lawmakers have about the clout of Apple and other large tech giants -- as well as worries about how some of President Trump's immigration policies will hurt Apple and other major tech companies.

Investors are in love with Apple due to surging sales for subscription services like Apple Music, iCloud, Apple TV+ and Apple Arcade. There is also growing excitement about the impending launch of the iPhone 12, which is expected to have 5G connectivity.

Apple -- and other top techs for that matter -- are also holding up much better than many other companies during the global recession that has been brought about by the Covid-19 pandemic.

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 556381

Reported Deaths: 7098
CountyCasesDeaths
Hennepin1158471682
Ramsey47939856
Dakota42586422
Anoka38655415
Washington24993274
Stearns21052219
St. Louis16821298
Scott16013117
Wright14818127
Olmsted1276297
Sherburne1064880
Carver984945
Clay783490
Rice7649101
Blue Earth698640
Kandiyohi628181
Crow Wing618186
Chisago550650
Otter Tail543973
Benton532297
Mower451132
Goodhue444172
Douglas442870
Winona438649
Nobles400648
Morrison396059
McLeod395255
Isanti378259
Itasca373653
Beltrami372957
Polk366067
Steele364014
Becker356048
Lyon348648
Carlton329452
Freeborn328129
Pine312321
Nicollet307542
Brown294739
Mille Lacs282150
Le Sueur270822
Todd268830
Cass250426
Meeker237437
Waseca231421
Martin213429
Wabasha19953
Roseau197818
Renville172543
Hubbard172341
Dodge17193
Redwood166335
Houston162614
Cottonwood157021
Fillmore15179
Pennington151019
Chippewa146537
Wadena144621
Faribault144019
Sibley136410
Kanabec131721
Aitkin128736
Watonwan12569
Rock123019
Jackson117410
Yellow Medicine110819
Pipestone109926
Pope10306
Murray10269
Swift100018
Marshall85617
Stevens82210
Lake78419
Clearwater77814
Koochiching77313
Wilkin77012
Lac qui Parle73622
Big Stone5644
Lincoln5592
Grant5498
Norman5229
Mahnomen5088
Unassigned50378
Kittson46822
Red Lake3877
Traverse3605
Lake of the Woods3073
Cook1460

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 358085

Reported Deaths: 5821
CountyCasesDeaths
Polk56023604
Linn20310330
Scott19111234
Black Hawk15560306
Woodbury14906221
Johnson1405881
Dubuque13162202
Dallas1090196
Pottawattamie10763162
Story1031547
Warren555686
Clinton537790
Cerro Gordo522986
Webster508391
Sioux506673
Marshall477274
Muscatine460796
Des Moines441965
Wapello4254120
Buena Vista421940
Jasper407670
Plymouth397479
Lee368555
Marion354575
Jones293155
Henry286337
Bremer279360
Carroll279351
Crawford261840
Boone258833
Benton250355
Washington249550
Dickinson242343
Mahaska224850
Jackson218242
Kossuth213063
Clay211225
Tama206671
Delaware203039
Winneshiek194433
Page190421
Buchanan188831
Cedar184423
Fayette183041
Wright180435
Hardin179942
Hamilton178149
Harrison176473
Clayton167155
Butler162534
Mills158720
Cherokee157138
Floyd155442
Lyon154841
Madison154119
Poweshiek152733
Allamakee149151
Iowa145524
Hancock143734
Winnebago136131
Grundy135332
Cass134654
Calhoun133211
Jefferson131035
Emmet128740
Shelby128637
Sac127319
Louisa127249
Appanoose126647
Mitchell125341
Union124132
Chickasaw122615
Humboldt118326
Guthrie117929
Franklin112821
Palo Alto111022
Howard102822
Montgomery100637
Unassigned10050
Clarke98323
Keokuk94730
Monroe94128
Ida89733
Adair84532
Pocahontas83721
Monona81230
Davis79924
Greene76710
Osceola75516
Lucas74923
Worth7098
Taylor65312
Fremont6139
Decatur5899
Van Buren55518
Ringgold53623
Wayne52123
Audubon4939
Adams3284
Rochester/St. Mary'S
Cloudy
34° wxIcon
Hi: 41° Lo: 33°
Feels Like: 24°
Mason City
Cloudy
35° wxIcon
Hi: 42° Lo: 31°
Feels Like: 24°
Albert Lea
Cloudy
36° wxIcon
Hi: 41° Lo: 31°
Feels Like: 27°
Austin
Cloudy
36° wxIcon
Hi: 40° Lo: 33°
Feels Like: 25°
Charles City
Cloudy
37° wxIcon
Hi: 43° Lo: 34°
Feels Like: 28°
Tracking an arctic front, cooling us down for the workweek
KIMT Radar
KIMT Eye in the sky

Latest Video

Image

Sean's Weather 4/19

Image

Mayo Clinic Doctor creates art for patients

Image

Electric car show

Image

Walk a Block

Image

Cleaning up Chester Woods

Image

Little Thistle collecting donations

Image

Rochester United PKG

Image

Grizzlies PKG

Image

Sara's Saturday Night Forecast

Image

April Tool's Day

Community Events