Apple Surpasses $2 Trillion Intraday Market Cap for the First Time in U.S. Listed Company History

On the 19th (local time), stock price exceeded $468 during trading... Market cap reached $1.98 trillion at close
"Market cap hits $2 trillion about 2 years after surpassing $1 trillion"

[Image source=EPA Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Apple has become the first U.S.-listed company in history to surpass a $2 trillion market capitalization during trading hours. Currently the most valuable company in the world by market value, it reached the $2 trillion milestone just over two years after surpassing $1 trillion in 2018.

According to Bloomberg on the 19th (local time), Apple's stock price on the New York Stock Exchange exceeded $468 during the morning session, surpassing the $2 trillion market cap threshold price of $467.77. While Apple's stock price continued its early session gains, the increase gradually diminished in the afternoon, closing at $462.83, up 0.13% from the previous day. Based on the closing price, the market cap was $1.979 trillion.

Apple's market cap exceeding $2 trillion comes just over two years after it first surpassed $1 trillion on August 2, 2018. Bloomberg explained, "It took Apple 38 years to reach a $1 trillion market cap, but only two years to add another trillion," attributing this to the expansion of its hardware ecosystem with the iPhone, new Apple Watch, AirPods, and the launch of digital services.

The New York Times (NYT) noted that although Apple's market cap fell below $1 trillion in March due to the impact of COVID-19, it surged afterward and set the record within 21 days. Apple's stock price, which was $224.37 on March 23, has more than doubled since then. Consequently, Apple surpassed Saudi Arabia's state-owned oil company Aramco's market cap on the 31st of last month, becoming the most valuable company in the world.

Only Apple and Aramco have surpassed a $2 trillion market cap globally. Aramco exceeded $2 trillion during trading after its initial public offering (IPO) in December last year. However, its corporate value declined due to COVID-19 and the oil price crash, and it is currently valued at approximately $1.8 trillion.

Apple's first $2 trillion market cap breakthrough comes amid the remarkable growth of major IT companies. Amazon and Microsoft (MS) have market caps reaching $1.7 trillion, and Alphabet, Google's parent company, is approaching $1 trillion. The rising stock prices of these companies have contributed to the strong performance of the S&P 500 and Nasdaq indices on the New York Stock Exchange.

Aswath Damodaran, a professor at New York University, likened these companies to "Goliaths" in the NYT, stating, "The pandemic crisis is making their already strong power even stronger."

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