It wasn't until August 2018 that Apple reached a market value of $ 1 trillion on Wall Street - 42 years after the company was founded. Less than two years later, the iPhone giant cracked the next historic mark.
New York (AP) - Apple is writing Wall Street history again: The market value of the iPhone giant has risen above the two trillion dollar threshold for the first time. A US company has never traded this high.
After a price increase of over five percent to more than 467 dollars, the market capitalization of the Californian tech group marked the new milestone.
Reaching this historic mark is the result of an enormous price rally - at the beginning of the year the share had cost just under $ 300. It was only in August 2018 that Apple went down in financial history as the first US company to achieve a thirteen-digit rating on the stock exchange.
Whereas it took the company over 42 years to produce the first trillion, the second was added in barely more than two years. This feat can be interpreted as evidence of the continued great success that Apple continues to have with its products such as the iPhone despite a global economic crisis due to the corona pandemic.
However, it is also an indicator of the extremely high valuations of tech companies in general and the investment pressure in the financial markets flooded by cheap central bank money. Apple's US rivals Microsoft and Amazon are also heading towards the two with the twelve zeros in terms of market value, even if the Windows giant was 1.6 trillion dollars and the world's largest online retailer was still a good bit short on Wednesday with 1.65 trillion dollars.
© dpa-infocom, dpa: 200819-99-229835 / 2