It has been two years since Apple emerged as the publicly listed top US Company has a $1 trillion stock market value. But, now the market has risen further, and reached $2 trillion which is almost $2 150 lakh crore. After the coronavirus hit, Apple shares have shown blowout results in July considered iPhone maker Saudi Aramco as one of the priceless companies. As of now, Apple’s share has risen to about fifty-seven percent by this year.
But, now the confidence of the investors is growing more due to the services that the company provides to the users that include music, games, video, and less on the iPhone sell. Apple now has about seven percent of S and P market value. Recently, the stick rally of Apple suffered overvaluation and so the stock is trading almost over thirty times more than what the people are expecting. Both Microsoft and Amazon keep an eye on Apple and consider it to be a priceless US company for almost $1.6 trillion. Along with that, Google-owner Alphabet also follows Apple with just $1 trillion.
Every heavyweight technological company recorded major highs during the pandemic since consumers have begun relying more on e-commerce, online streaming as well as other features. Investors are of the view that such companies will become stronger than before compared to the small competitors will. It has also been found that Apple’s revenue increased almost everywhere during June even though the pandemic took a toll on the US economy, and broke its spine after the Great Depression.
Apple witnessed a major rise and even became a shocking factor for Wall Street since the number of loyal shoppers of iPhone, MacBook, and iPads online was quite high even though normal shops had to be closed due to lockdown. After Steve Jobs came up with such an outstanding revolution in 1976, the company successfully pushed revenue, especially in the economies of Portugal, Peru as well as other countries.
In 2011, Tim Cook, present chief executive officer of Apple, took over the company and doubled the revenue as well as profits after that. Now, the company has decided to split the stock on August 31 once the trading opens.