At the end of March 2020, we discussed the comeback of Microsoft. On March 27, 2020, Microsoft had the lead over Apple for market capitalization: “As of March 27, 2020, Microsoft was at $1.14 trillion and Apple was at $1.08 trillion, due to COVID-19.” For the last sixth months, Apple stock has been on a tear. And Apple is the first 2 trillion dollar US company.
On a Real Run: Apple Is the First 2 Trillion Dollar US Company
Last Wednesday (August 19, 2020), Apple stock’s intraday valuation hit the $2 trillion mark. Nearly double its March 2027 figure.
Felix Richter reports the following for Statista:
Apple became the first U.S. company to hit a market capitalization of $2 trillion. And it is only the second company to reach a market cap of $2 trillion. After the Saudi Arabian oil and gas giant Saudi Aramco did it December 2019.
The company’s business proved surprisingly immune to the negative impact of the COVID-19 crisis. The latest boost to Apple’s market cap came after the company announced robust revenue and profit growth for the quarter ended June 27. As well as a four-for-one stock split by the end of August.
Take a look at the Statista infographic showing Apple’s performance during the 21st century.
Next, read these observations from Emily Bary, writing for MarketWatch:
Apple Inc. is on [Friday August 21] $454 billion larger than Amazon.com, the next largest U.S. company by market cap. That is Apple’s widest spread over the second largest U.S. company since Apple became the biggest U.S. company by valuation. Previously, the widest spread had been in 2015, when Apple’s market cap was about $398 billion more than Exxon Mobil. Its market capitalization recently stood at $2.1 trillion.
What happened to Microsoft since March 27, 2020? Nothing bad. On August 21, its market cap stood at $1.6 trillion. Great results, but trailing well behind Apple.
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