Apple becomes 1st US company to hit $2T in market value

Apple on Wednesday, August 19, became the first US company to reach $2 trillion in market value in the latest demonstration of how tech giants have benefited from the upheaval of the coronavirus.

Shares in Apple have roughly doubled from March lows, an astonishing performance which has lifted chief executive Tim Cook's net worth to $1 billion for the first time, according to a Bloomberg Billionaires Index calculation. "He didn't invent anything, but what he has done is keep a firm hand on the tiller, steering the ship and keeping the culture intact," said analyst Laura Martin at Needham & Company.Apple's rise comes amid a broader rally in technology shares as employees around the country shift to working at home amid the coronavirus pandemic and social distancing protocols.

During the session, Cook faced tough questioning over the market power of the company's App Store and its treatment of developers.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple becomes 1st US company to hit $2 trilion in market valueI guess they can afford to make their products Made in the USA. I will never buy their products if it’s still Made in China. Apple
Source: ABSCBNNews - 🏆 5. / 83 Read more »

Apple becomes 1st US company to hit $2 trilion in market valueI guess they can afford to make their products Made in the USA. I will never buy their products if it’s still Made in China. Apple
Source: ABSCBNNews - 🏆 5. / 83 Read more »