- Apple’s value was under $1 trillion after the stock market plunged over fears of the coronavirus
- The company has claimed to build a sophisticated global supply chain to produce billions of devices and leaned into a product line designed to lock customers into its eco system
- Together, other five companies’ value has swelled by about $2.9 trillion since March 23, nearly the same growth as the S&P 500’s next 50 most value companies combined which includes Berkshire Hathaway, Walmart and Disney, according to S&P Global, the market analytics firm
According to a report, Apple has become the first US company to reach a $2 trillion valuation when its share rose to 1.2% to $467.78 in morning trading. It was another milestone for the maker of iPhones, Mac and Apple Watches, cementing its title as the world’s most valuable public company and punctuating how the pandemic has been a bonanza for the tech giants.
It was also reported that in mid-March, Apple’s value was under $1 trillion after the stock market plunged over fears of the coronavirus. On March 23, the stock market’s nadir this year, the Federal Reserve announced aggressive new measures to calm investors. Since then, the stock market- and particularly the stocks of Apple, Microsoft, Amazon, Alphabet and Facebook – largely soared, with the S&P 500 hitting a different level on Tuesday.
Billion dollar investments
It has been said that the investors have poured billions of dollars into the tech behemoths, betting that their immense size and power would serve as refuges from the pandemic-induced recession.
Together, those five companies’ value has swelled by about $2.9 trillion since March 23, nearly the same growth as the S&P 500’s next 50 most value companies combined which includes Berkshire Hathaway, Walmart and Disney, according to S&P Global, the market analytics firm. Apple’s valuation alone rose by about $6.68 billion a day.
Unrivalled ability to make profits
Under its Chief Executive Officer, Tim Cook, Apple’s most important innovation in recent years has arguably been its nearly unrivalled ability to make profits. Tim has build a sophisticated global supply chain to produce billions of devices and leaned into a product line designed to lock customers into its eco system.
Wile the global economy shrank faster in the coronavirus pandemic, all of Apple’s second $1 trillion came in the past 21 weeks. It took 42 years to reach $1 trillion in value. It took it just more than two more years to get to $2 trillion.
