Apple Becomes First Public U.S. Company to Bag $2 Trillion Valuation
Written by SOURCE on August 19, 2020
Apple, unsurprisingly, has now bagged a $2 trillion valuation.
The milestone is notably achieved just two years after the Steve Jobs and Steve Wozniak-founded company hit its inaugural trillion back in 2018, a feat that was preceded by years of introducing inarguable game-changers in the worlds of tech and communication.
By contrast, as explored in detail in Jack Nicas’ New York Times report on Wednesday, the $2 trillion valuation follows a period in which Apple has been more interested in maintaining and improving its proven fleet of devices and services than in leading the charge with massive innovation-focused new releases.
Naturally, word of Apple’s latest brag was met with an assortment of reactions:
The $2 trillion threshold—which sees shares at $467.78 in Wednesday’s morning trading—solidifies the Tim Cook-helmed company’s status as the most valuable public corporation on the planet, as well as the first U.S. company to hit the mark. Previously, Apple also became the first public U.S. company to reach $1 trillion in market cap.
The news follows an announcement earlier this week that global radio station provider Beats 1 would now be known as Apple Music 1. Additionally, the rebranded service—available through the Apple Music app—launched the new stations Apple Music Hits and Apple Music Country. The former offers listeners curated sessions consisting of songs across the ’80s, ’90s, and ’00s interspersed with commentary and interviews from a range of show hosts including Snoop Dogg, blink-182’s Mark Hoppus, Ciara, and more.
