Apple reaches $2 trillion valuation

Apple (NASDAQ: AAPL) has become Wall Street’s first $2 trillion company.

During mid-morning trading on Wednesday, the tech giant surpassed $467.77 per share.

Apple hit the $1 trillion mark in 2018. This year, shares in the group have surged 59.24%

In it’s latest results, the group boasted a $59.7 billion growth in revenue. It also saw a 161.63% growth in its services sector between Q3 2015 and Q3 2020. This was despite the company warning in February that its year-end profits may take a significant hit from the impact of the coronavirus.

“We do not have a zero-sum approach to prosperity,” said chief executive, Tim Cook, with the latest results.

“We are focused on growing the pie, making sure our success isn’t just our success and that everything we make, build or do is geared toward creating opportunities for others,” he added.

Shares in the group are trading +1.07% at 467,11 (1622GMT). 

 

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Safiya Bashir
Safiya focuses on business and political stories for UK Investor Magazine. Her interests include international development, travel and politics.