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[Apple: $2 trillion Worth Company]
US Technology company, Apple, has become the first company to be valued $2 trillion worth of company on the stock market. The tech giant behind the iPhone hit the crucial a share valuation of $467.77. This means the company, co-founded to sell personal computers by the late Steve Jobs in 1976, is valued at significantly more than half of the US’s 2019 tax take.
It is not the first company in the world to be valued at $2 trillion. Saudi Aramco, the Saudi state-backed oil company made its stock market debut last year, but it then slipped back. Apple company has so far proved to be coronavirus-proof, crushing Wall Street expectations in each of the last two quarters and propelling the company to its historic milestone.
Apple had planned a precautious to take a hit, issued a revenue warning and withdrawing financial guidance in February well before the pandemic. Instead, Apple’s share price has risen more than 50% this year, adding more than $1tn to its value since March. It is now worth $300 billion than the next largest listed-US company, Jeff Bezos’ Amazon.
Source: The Guardian
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