Zimpapers Logo

Apple hit a market capitalisation of US$2 trillion on Wednesday to become the first publicly traded US company to reach the milestone.

Based on the share count of more than 4 275 billion, Apple broke the barrier just before 11am on Wednesday, as its share price rose to US$467,77. Apple shares traded at a high point of US$468.65 during the day and US$462,83 share at closing.

Apple first reached US$1 trillion market cap on August 2, 2018. Other tech giants as Amazon, Microsoft and Alphabet also reached US$1 trillion market cap.

Apple shares are up about 60 percent year to date. In the past year, its shares have risen more than 120 percent from US$201 per share.

The company posted a strong third-quarter report in late July, with quarterly revenue of US$59,7 billion, up by 11 percent year on year, while Apple’s net sales in the Great China region increased to US$9,329 billion from US$9,157 billion a year ago. – Bloomberg.