After reaching a market capitalization of $1 trillion in 2018, Apple has now become the first public company to achieve a $2 trillion market cap. APPL crossed the $2 trillion market cap today when its share value crossed $467.77 on NASDAQ. For those who don’t know, the market capitalization of a company is its overall value calculated by multiplying the company’s share value by its total number of shares.
Apple has achieved the $2 trillion market cap amidst the COVID-19 pandemic, which is a huge achievement, as most other companies are going through huge losses right now. That being said, Apple has had its fair share of challenges during this pandemic. The brand had to shut down all its physical stores during the lockdown in March, which led its share value to drop as low as $230, half of what it is right now.
Apple, however, has succeeded in recovering its share value, thanks to the rising sales of iPhone, iPad, and iMac across the world. The services division of Apple, where it offers Apple Music, Apple TV+, Apple News+, Apple Arcade, and iCloud storage, seems to be offering promising results as well, with strong revenue forecasts from the division for the next few quarters.
Rumor has it that Apple will soon launch Apple One, a subscription that will offer all services from the brand in one package, which will further boost the revenues of the company.
Considering that Apple has managed to achieve the $2 trillion market cap in times like this, we think that the market value of Apple will grow even further when the pandemic is over. Apple is soon going to launch the iPhone 12 series as well, which will boost Apple’s revenues even further.