Aug 19, 2020

Apple first US company to be valued at $2tn

Tech giant Apple has become the first US company to be valued at $2tn on the stock market. It reached the milestone just two years after becoming the world's first trillion-dollar company in 2018. The oil giant's value has slipped back to $1.8tn since then and Apple surpassed it to become the world's most valuable traded company at the end of July. The company posted strong third quarter figures towards the end of July, including $59.7bn of revenue and double-digit growth in its products and services segments. The next most valuable US company is Amazon which is worth around $1.7tn. Apple's rapid share price rise is "An impressive feat within a short period of time", said Paolo Pescatore, a technology analyst at PP Foresight.

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