Coronavirus: Apple market value tops $2trn for the first time

Apple has seen its market value hit $2trn for the first time as shares in US tech companies enjoy a surge in popularity amid the coronavirus crisis.

The iPhone maker's stock reached the milestone, topping $468 per share, during early trading on Wall Street following a leap of almost 60% in the value of its shares during the year to date.Market experts have credited a wider surge in tech firm shares this year on resilience in the face of COVID-19 chaos for the global economy.

Demand has also been driven by the flood of cheap money created by the US central bank to support the economy as it recovers from its largest slump since the Great Depression.A global catastrophe for stock markets worldwide in February and March was followed by the tech-focused Nasdaq hitting record levels in June.

The broad-based S&P 500, America's main stock market, struck new highs on Tuesday - in sharp contrast to London's FTSE 100 which remains almost 20% below its peak this year because its constituent companies are more exposed to the crisis.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Apple becomes Wall Street's first $2tn companyThe tech giant behind the iPhone hit the crucial a share valuation of $467.77 Tooo much. Give me half of your asset. If only we’d bought sh....
Source: The Guardian - 🏆 84. / 53 Read more »

Apple becomes first ever $2 trillion company as share price surges amid pandemicApple has become the first ever company to be worth more than $2 trillion, as its share price continues to surge amid the coronavirus pandemic. Its shares have gained almost 60 per cent over 2020, Imagine how much it would improve society if they decided to pay tax like they're legally obliged... That will be enough for Apple to be blamed for creating it.. and the 5G it rode in on 🤦🏼‍♂️
Source: The Independent - 🏆 80. / 59 Read more »