Apple became America’s first $ 2 trillion company, just two years after becoming the first company to be valued at $ 1 billion by Wall Street.
The tech powerhouse behind the iPhone was expected to hit a share price of $ 467.77 to hit the milestone and briefly broke that barrier during Nasdaq trading day on Wednesday.
Apple just became the first company to have a market capitalization of $ 2 trillion.
Of them. A thousand billion.
Here are two graphs showing its path since the day it went public on December 12, 1980. It has increased 76,000% since that day. The first graph is a% change graph and the second is a logarithmic scale. pic.twitter.com/sDBMsRvRn1
– TradingView (@tradingview) August 19, 2020
The $ 2 billion (£ 1.52 billion) valuation means the company, co-founded to sell personal computers by the late Steve Jobs in 1976, is valued at well over half of America’s tax intake in 2019.
Apple reached a market cap of $ 1 billion in 2019, 42 years after its inception and 117 years after US Steel became the first company to be valued at $ 1 billion in 1901.
But it’s not the first company in the world to cross the $ 2 billion mark.
Saudi Aramco achieved the watermark after the Saudi state-backed oil company debuted on the stock exchange last year.