Earlier this week, Apple’s market shares reached an astounding 2 trillion dollars, officially becoming the first company in U.S history to hit that value. What’s more interesting is how its shares surged by 60% during a global health crisis.
Apple reached $1 trillion in worth in the 42 years since it was founded.
But it only took two more years for the company to hit another trillion!
In mid-March when the stock market plunged, it seemed as though big tech companies would take a huge hit. On the contrary, the coronavirus pandemic has been a bit of a boon for the tech giants. Even though Apple suffered chain disruptions and had to shut down stores, its sales went through the roof! Being forced to stay at home didn’t stop the company’s loyal customers from continuing to buy their products and paying for the streaming services it offers.
Luca Maestri, Apple’s finance chief, said in an interview last month, “Our products and services are very relevant to our customers’ lives and, in some cases, even more during the pandemic than ever before.”
Apple isn’t the first in the world to be the most valuable publicly traded company, however. That title belongs to Saudi Aramco, which hit the same mark back in December. Currently, Apple’s worth is followed by Amazon and Microsoft – the pandemic has proven to be good for business for all three of these companies.
It comes as no surprise that Tim Cook, the CEO of Apple, also earned billionaire status earlier this month. His 847,969 shares in the company are now worth $375 million. I wonder if he sleeps on dollar bills. Maybe he should.
If that sounds like an enticing, albeit slightly unlikely dream, and you’d like to invest in the company too, keep an eye out – Apple is about to make its shares more affordable for the average buyer. By the end of the month, the price of a single share will be reduced to $117. Not too shabby a deal! You know, considering.
Ah what a strange thing it is indeed, to be rich and famous.