Apple shareholders are now in euphoria as Apple has become the first public company to reach the magic milestone of a $2 trillion market cap.
Apple’s stock price exceeded $2 trillion during the intraday trading, eclipsing a benchmark never reached by other companies. Importantly, two years ago the iPhone manufacturer became the first company whose market value surpassed $1 trillion. Thus, it was able to double its own record in the shortest possible time. It took Apple 38 years to hit $1 trillion in value and two more years to get to $2 trillion. Here is a timeline of Apple's financial accomplishments:
1980: $1 billion
1990: $5 billion
2000: $15 billion
2010: $250 billion
2018: $1 trillion
2020: $2 trillion
Previously, only Saudi Aramco, an oil company from Saudi Arabia, managed to surpass a $2 trillion valuation in December 2019. However, dropping oil prices amid the coronavirus pandemic have hurt its stock.
