Apple is first US company to hit US$2 tril in market value

NEW YORK: Apple on Wednesday became the first US company to reach US$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 US$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.

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Apple becomes first US company to hit US$2t in market value | Malay MailNEW YORK, August 19 — Apple today became the first US company to reach US$2 trillion (RM8.34 trillion) in market value in the latest demonstration of how tech giants have benefited from the upheaval of the coronavirus. The iPhone maker attained the distinction in mid-morning trading and was up...
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Apple becomes 1st US company to hit $2 trillion in market value | New Straits TimesNEW YORK: Apple on Wednesday 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.
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