Apple is now the first American publically traded company to reach the $2 trillion market cap. It did so a few hours ago after its share prices peaked at $467.77. This made it the second public company in the globe after Saudi Arabia’s Saudi Aramco to hit the mark. Amusingly, Apple is presently the most valuable company in the world as it beat the Arabian competitor earlier this month.
Although Apple has said that market caps are not part of its major goals, it is undeniably a significant feat to attain. What makes it even more incredible is that Apple became a $1 trillion company in 2018. It means it took just a slight over two years to double its valuation, particularly during the times of global pandemic that has affected several businesses.
The Cupertino-based tech giant finished at a valuation of $1.98 trillion as its shares price dropped to $462.83. This is not unexpected as share prices do variable as the day progresses. If we talk regarding other US-based companies to have crossed the $1 trillion mark, these consist of Amazon, Alphabet, and Microsoft. Each one of these companies is a straight Apple competitor in the tech space.
Though Apple’s market valuation is definitely increasing at a steady speed, it also keeps finding itself in legal scrape every time. The existing high-profile battle is with Epic Games, creator of insanely famous battle royale game Fortnite. The latter commenced its individual in-app purchases payment way to shun paying a 30% cut on every transaction to Apple. This resulted in Fortnite getting detached from the App Store as Apple needs it to stop using the system and stick with what other developers have used.
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