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Apple creates history, becomes the first US firm to reach $2 trillion valuation

Apple creates history, becomes the first US firm to reach $2 trillion valuation

Submitted by • August 31, 2020 whttps

It took around 42 years for Apple Inc. to reach a valuation of $1 trillion. It took just two years more time to get to $2 trillion. Even more stunning: all of the company’s next $1 trillion came in the last 21 weeks, while the global economy has significantly impacted by coronavirus pandemic.

On Wednesday, Technology giant Apple has become the first American firm to hit a $2 trillion valuation when its shares mounted 1.4% to $468.65 in midday trading session, however, they later decreased and ended the day flat.

The new valuation marked another milestone for the iPhone maker, cementing its leading position as the most valuable public company in the world and punctuating how the COVID-19 pandemic has been a jackpot for the tech giants.

This valuation makes the Apple the eight-largest country in the world if equated in terms of Gross Domestic Product(GDP), more than the likes of Spain (USD1.394 trillion), South Korea (USD1.642 trillion), Russia (USD1.700 trillion), and more.

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