Apple becomes first U.S. company to reach a $2 trillion market cap

Apple becomes first U.S. company to reach a $2 trillion market cap
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Apple hit a market cap of $2 trillion Wednesday, doubling in valuation in just over two years to become the first publicly traded U.S. company to reach the milestone.

Based on a share count of more than 4.275 billion, Apple broke the barrier just before 11 a.m. ET, when its price rose to $467.77. However, Apple fell below the $2 trillion mark as the day moved on, and shares closed at $462.83, giving it a market cap of about $1.98 trillion.

Apple first reached a $1 trillion market cap on Aug. 2, 2018. Wall Street has largely expected the iPhone maker to become the first to surpass $2 trillion. On July 31, Apple passed the state oil giant Saudi Aramco to become the world’s most valuable publicly traded company.

 

Source: CNBC

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