Apple Becomes Most Valuable Company In The World
At a two trillion-dollar valuation, the company constitutes 10% of US GDP
Global tech giant Apple has made history by becoming the first American company to reach a valuation of two trillion dollars in terms of market capitalisation. It became the most valuable company in the world after it overtook the state-backed Saudi Aramco last month.
With a share price of 467 dollars, the phenomenal milestone of reaching its second trillion was achieved by the organization in just two years. It took 42 years for the iPhone makers to reach their first trillion-dollar mark.
In March this year, the Steve Jobs-founded company had plummeted to less than the trillion dollar mark, after the market stocks went down following fears of the coronavirus. However, its stocks along with many other companies picked up, after the US Federal Reserve announced aggressive measures to combat the situation and calm the investors.
Apple’s value is now 10% of US GDP (Gross Domestic Product). Comparing Apple’s growth with the world economy, the global giant’s market share is more than many countries, including Italy, Brazil and Canada. Its future market value may soon pass the GDP estimates of the biggest economies of the world including the United Kingdom as well as India.
While Apple continues to lead the market, other contemporary players like Amazon, Microsoft, Facebook and Google’s parent company, Alphabet are following the leader’s steps.
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