The iPhone maker’s share has risen almost 55% so far in 2020, and shares have risen more than 106% since the market reached a low point amid the coronavirus recession on March 23.
Apple’s market value now exceeds its counterparts from other technology giants in the United States, including Microsoft, which has a market value of $ 1.7 trillion, Amazon (AMAZON) with a value of $ 1.6 trillion, and Alphabet at $ 1.1 trillion. And Facebook (Facebook) $ 761 billion.
Apple was the first US company to reach a market value of $ 1 trillion, which it achieved on August 2, 2018.
After announcing strong profits in the third quarter, specifically on July 31, 2020, Apple overtook the giant Saudi oil company Aramco to become the world’s most heavily traded company by value.
Saudi Aramco exceeded its valuation of $ 2 trillion in December 2019, but the drop in oil prices amid the Corona virus pandemic has hurt its shares since then.
At $ 2 trillion, Apple’s market value is now higher than the GDP of many developed countries, including Italy, Brazil, Canada, Russia, and South Korea, to name a few.
Apple thrived during the Corona epidemic, as many people were forced to stay at home, and the company benefited from work-from-home trends and strong online sales; And it recorded record profits for the third quarter in late July, with revenues of nearly $ 60 billion, not to mention double-digit growth in its product and service sectors.
Source : websites