Apple is already worth over $2.5 trillion

By: Maksim Panasovskyi | 01.09.2021, 00:33
Apple is already worth over $2.5 trillion

Apple has become the first-ever U.S. company to reach $2.5 trillion in market capitalization. The Cupertino-based technology giant hit its all-time high on August 30, 2021, when its stock rose more than 3% to $153.12 per share.

It should be noted that this is the best result in the history of Apple at the closing trading day, taking into account corrections for the share split. The value of the stock rose above this value on the same day to $153.49. Against a background of rising stock prices, the U.S. company's market capitalization totaled $2.531 trillion. Notably, Apple was the first company in the United States to reach $2.5 trillion. Only Microsoft ($2.281 trillion) passed the $2 trillion milestone, while Alphabet ($1.934 trillion), Amazon ($1.733 trillion) and Facebook ($1.073 trillion) managed to reach $1 trillion.

The total market capitalization of the five U.S. companies is $9.552 trillion, just $2.5 trillion more than the capitalization of Saudi Aramco alone, the national oil company from Saudi Arabia ($7.05 trillion).

Returning to Apple, the stock rose in value after it reported its financial results for the period from 28 April to 28 June 2021 (Apple's third fiscal quarter). The manufacturer increased revenue by 36% year-over-year and net income by 93% (to $81.74 billion and $21.74 billion, respectively). Recall that Apple became the first American company to increase its market capitalization to $2 trillion, which it did in 2020.