Cupertino based Apple has created yet another history by becoming the first US company to reach a $2 trillion market cap when its shares rose as much as 1.4% at $468.63 on Wednesday. The company reached from $1 trillion to $2 trillion milestone in just over two years. It was also the first US company to reach a $1 trillion market cap in the year 2018.
However, Apple is not the first company to reach the $2 trillion market cap. Saudi Arabia’s state-owned Saudi Aramco, the world’s largest producer of oil, touched the $2 trillion mark in December 2019. Nevertheless, the global economic slowdown and a plunge in oil prices has led to a sharp decline in its stock price.
Behind in the league of $1 trillion club are Amazon, Microsoft and Google-owner Alphabet.
Apple Market Cap Tops GDP of Italy, Brazil, Canada, and Russia
The valuation that Apple has gathered surpassed GDP of countries such as South Korea, Spain, Australia, Mexico, Indonesia, Netherlands, Saudi Arabia, Turkey, Switzerland, Taiwan, United Arab Emirates and Norway among many others.
Last month, the iPhone maker delivered robust quarterly results, reporting revenue gains across every category and in geography as consumers working and learning from home during the COVID-19 pandemic turned to its products and services, Reuters reported.
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