• UK
  • World
    • USA
  • Entertainment
    • Celeb
    • Showbiz
    • Magazine
  • Politics
  • Sports
  • Gaming
  • Tech
  • Science
    • Education
  • Insurance
  • Business
  • Auto
  • ToS/Contact
    • ToS
    • Privacy Policy
    • Contact
NewsExplored
  • UK
  • World
    • USA
  • Entertainment
    • Celeb
    • Showbiz
    • Magazine
  • Politics
  • Sports
  • Gaming
  • Tech
  • Science
    • Education
  • Insurance
  • Business
  • Auto
  • ToS/Contact
    • ToS
    • Privacy Policy
    • Contact
  • Facebook

  • Twitter

  • LinkedIn

  • Tumblr

  • RSS

Tech

Apple first US company to be valued at $2tn

Apple first US company to be valued at $2tn
Newsexplored
19th August 2020
5
SHARES
ShareTweet
SubscribeRedditGoogleWhatsappStumbleuponPinterestDiggLinkedinTumblrTelegram
Views:
2
Apple boss Tim CookImage copyright Getty Images
Image caption Apple boss Tim Cook

Tech giant Apple has become the first US company to be valued at $2tn (£1.5tn) on the stock market.

It reached the milestone just two years after becoming the world’s first trillion-dollar company in 2018.

Its share price hit $467.77 in mid-morning trading in the US on Wednesday to push it over the $2tn mark.

The only other company to reach the $2tn level was state-backed Saudi Aramco after it listed its shares last December.

But the oil giant’s value has slipped back to $1.8tn since then and Apple surpassed it to become the world’s most valuable traded company at the end of July.

Strong sales

The iPhone-maker’s shares have leapt more than 50% this year, despite the coronavirus crisis forcing it to shut retail stores and political pressure over its links China.

In fact, its share price has doubled since its low point in March, when panic about the coronavirus pandemic swept the markets.

Tech firms, which have been viewed as winners despite lockdowns, have seen their stock surge in recent weeks, helping the benchmark S&P 500 index to hit a record high on Tuesday.

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.

The next most valuable US company is Amazon which is worth around $1.7tn.

  • Apple helped make ‘top secret’ government iPod
  • Fortnite: Epic files new injunction against Apple

Apple’s rapid share price rise is “an impressive feat within a short period of time”, said Paolo Pescatore, a technology analyst at PP Foresight.

data-ad-format="auto">

“The last few months have underlined the importance of users and households alike to own better quality devices, connections and services and with Apple’s strong broad portfolio of devices and a growing services offering, there are plentiful opportunities for future growth.”

He said the arrival of gigabit connectivity broadband would offer Apple “endless possibilities”.

“All eyes are now on the eagerly anticipated 5G iPhone which will fuel further consumer demand,” he added.


Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on Google+ (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Share on Skype (Opens in new window)

Related

Related Itemsapplecompanyfirstvalued
Tech
19th August 2020
Newsexplored @newsexploredweb

Related Itemsapplecompanyfirstvalued

More in Tech

  • Read More
    Could Google really leave Australia?

    Views:2 Google has threatened to pull out of the Australian market if a new law governing its...

    Newsexplored 19th August 2020
  • Read More
    Google threatens to withdraw search engine from Australia

    Views:2 image copyrightReuters image captionGoogle says the new law will lead to it disabling its search tool...

    Newsexplored 19th August 2020
  • Read More
    Samsung Galaxy S21 Ultra: Does stylus spell end of the Note?

    Views:2 By Leo KelionTechnology desk editor image copyrightSamsung image captionThe Galaxy S21 Ultra has hardware built into...

    Newsexplored 19th August 2020
  • Read More
    December Microsoft issue affecting pupils could take ‘weeks’ to fix

    Views:2 image copyrightGetty Images image captionMicrosoft Teams is a key resource for pupils learning at home A...

    Newsexplored 19th August 2020
  • Read More
    Fifa 21 and Frozen 2 top digital sales of 2020

    Views:2 image copyrightEA SPORTS/DISNEY The UK spent a record £9.05bn ($12bn) on home entertainment in 2020, with...

    Newsexplored 19th August 2020
  • Read More
    Elon Musk’s guide to getting ahead in business

    Views:2 By Justin RowlattChief environment correspondent image copyrightReuters image captionWhat are the secrets behind Elon Musk’s astonishing...

    Newsexplored 19th August 2020
  • Read More
    Home-schooling: How to help your child’s online learning

    Views:2 By Jane WakefieldTechnology reporter Published 2 hours ago Related Topics image copyrightGetty Images image captionSchool’s out....

    Newsexplored 19th August 2020
  • Read More
    Cyberpunk 2077: How did the release go so wrong?

    Views:2 image copyrightGetty Images It’s safe to say things haven’t gone smoothly for the makers of Cyberpunk...

    Newsexplored 19th August 2020
  • Read More
    Manchester United hit by cyber attack but say fan data safe

    Views:2 Manchester United host West Brom at Old Trafford in the Premier League on Saturday Manchester United...

    Newsexplored 19th August 2020
  • Read More
    Climate change: Can sending fewer emails really save the planet?

    Views:2 By David MolloyTechnology reporter Related Topics Climate change image copyrightGetty Images Are you the type of...

    Newsexplored 19th August 2020
  • Read More
    PS5 v Xbox Series X: Who will win the next-gen console race?

    Views:2 By Steffan PowellNewsbeat gaming reporter Published 7 November It’s like the excitement just before Christmas, only...

    Newsexplored 19th August 2020
  • Read More
    Five ways the virus has changed Netflix

    Views:2 By Natalie ShermanBusiness reporter, New York image copyrightNetflix image captionComedy series The Good Place has been...

    Newsexplored 19th August 2020
Scroll for more
Tap
data-ad-format="auto">
NewsExplored

NewsExplored - Making sure all the latest news is explored?

Contact us for help

  • Popular

  • Latest

  • Comments

  • Australian Open: Heather Watson among 47 players to quarantine in Melbourne after Covid cases on flights
    Sports16th January 2021
  • The Papers: ‘Fortress Britain’ and ‘modern miracle workers’
    UK15th January 2021
  • Fashion lookahead: Eight major 2021 looks from tie-dye to pastels
    Entertainment30th December 2020
  • Fifa 21 and Frozen 2 top digital sales of 2020
    Tech8th January 2021
  • Tampa Bay Buccaneers 31-26 Green Bay Packers; Buffalo Bills 24-38 Kansas City Chiefs
    USA25th January 2021
  • The homeless drug addict who became a history professor
    USA24th January 2021
  • Kamala Harris: What the vice-president did on her first day
    USA21st January 2021
  • Biden inauguration: New president to be sworn in amid Trump snub
    USA20th January 2021
  • Les Rehrer says:

    Hello Its me :P and thanks for this post

  • optumrx login says:

    Thank For News.

  • Kent Laatsch says:

    Please let me know if you're looking for a writer…

  • Bob says:

    RT News was where I learned that Erdogan controlled isis.…

Copyright © 2018 Top News Theme. Theme by MVP Themes, powered by Wordpress.

Apple helped make ‘top secret’ iPod for US government
Mukbang: Why is China clamping down on eating influencers?
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok