Apple CEO Tim Cook delivers the keynote address during the 2020 Apple Worldwide Developers Conference at Steve Jobs Theater in Cupertino, California, US, on June 22, 2020. [Photo/Agencies]
SAN FRANCISCO — Apple hit a market capitalization of $2 trillion on Wednesday to become the first publicly traded US company to reach the milestone.
Based on the share count of more than 4.275 billion, Apple broke the barrier just before 11 am ET Wednesday, as its share price rose to $467.77. Apple shares traded at a high point of $468.65 during the day and $462.83 per share at closing.
Apple first reached $1 trillion market cap on Aug 2, 2018. Other tech giants as Amazon, Microsoft and Alphabet also reached 1 trillion market cap.
Apple shares are up about 60 percent year to date. In the past year, its shares have risen more than 120 percent from $201 per share.
The company posted a strong third-quarter report in late July, with quarterly revenue of $59.7 billion, up by 11 percent year on year, while Apple’s net sales in the Great China region increased to $9.329 billion from $9.157 billion a year ago.