'Soaring High' Apple Eyes $2 Trillion Market Cap Beyond COVID-19

Market Cap Hits $1.967 Trillion on 13th... "Recently Surpassed Aramco's Market Cap"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Despite the COVID-19 pandemic, Apple, which has continued its stock price rally, is aiming to surpass a market capitalization of $2 trillion (approximately 2,370 trillion KRW).

On the 13th (local time), according to Bloomberg News, Apple's stock price on the New York Nasdaq closed at $460.04, up 1.77% from the previous day. Apple's market capitalization was recorded at $1.967 trillion, marking an all-time high based on the closing price. If Apple's stock price exceeds $467.7, its market capitalization will surpass $2 trillion.

Globally, the only company to have reached a $2 trillion market capitalization was Saudi Arabia's state-owned oil company Aramco, which went public in mid-December last year and briefly exceeded $2 trillion during trading. However, due to the impact of falling oil prices in the first half of this year, Aramco's market capitalization dropped to $1.787 trillion on this day. Bloomberg reported, "Apple's rally has surpassed Aramco, making it the most valuable company in the world."

The market expects Apple's market capitalization to exceed $2 trillion soon. Apple's stock price has more than doubled since its low point at the end of March. In particular, on the 1st, it surged more than 10% in a single day due to strong earnings and the announcement of a stock split plan.

What drove Apple's stock price up on this day was news of a new subscription service in preparation. Bloomberg reported that Apple will launch a new service called "Apple One." This service will bundle subscription services such as the music streaming service Apple Music, Apple TV+, news, and games into one package sold at a discounted price. It is also known that Apple is considering launching a subscription-based online fitness class. Apple One is expected to be launched as early as October alongside the release of the iPhone 12.

This content was produced with the assistance of AI translation services.