AP

Apple is 1st US company to be valued at $2 trillion

Aug 19, 2020, 9:13 AM

Apple trillion...

Apple CEO Tim Cook talks about the latest iPhone during an event to announce new products Tuesday, Sept. 10, 2019, in Cupertino, Calif. (AP Photo/Tony Avelar)

(AP Photo/Tony Avelar)

NEW YORK (AP) — Apple is the first U.S. company to boast a market value of $2 trillion, just two years after it became the first to reach $1 trillion.

Apple shares have gained nearly 60% this year as the company overcame the shutdown of factories in China that produce the iPhone and the closure of its retail sales amid the coronavirus pandemic.

The company’s hugely loyal customer base trusts its products so much that they continued to buy iPhones and other devices online while stuck at home. Apple recently reported blowout earnings for the April-June quarter,

An upcoming four-for-one stock split that will make Apple’s shares more affordable to more investors also sparked a rally after it was announced three weeks ago.

Apple has been at the vanguard of a group of Big Tech companies that are increasingly taking over people’s lives — and the stock market. Just five companies — Apple, Microsoft, Amazon, Facebook and Google’s parent company — account for nearly 23% of the S&P 500’s entire value.

Saudi Aramco reached a market value of $2 trillion shortly after becoming a public company in December 2019. The Saudi energy producer’s shares have fallen since amid a drop in oil prices and its market value is now about $1.82 trillion.

We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

AP

A photo taken of Matthew Perry in 2022....

Clayre Scott

Criminal investigation opened in relation to Matthew Perry’s death

A criminal investigation has been opened in relation to Matthew Perry's death due to high levels of ketamine found in his blood.

24 days ago

FILE - The United Nations (UN) headquarters are pictured in Geneva, Switzerland, Friday, Sept. 9, 2...

EDITH M. LEDERER, Associated Press

U.N. to vote on resolution that would grant Palestine new rights

The U.N. General Assembly is expected to vote Friday on a resolution that would grant new "rights and privileges" to Palestine.

1 month ago

President Joe Biden arrives at Chicago O'Hare International Airport to attend a political fundraise...

ZEKE MILLER and AAMER MADHANI, Associated Press

Biden says US won’t supply weapons for Israel to attack Rafah

Biden said the U.S. was still committed to Israel's defense, but that if Israel goes into Rafah, "we're not going to supply the weapons and artillery shells used."

1 month ago

Adult film actress Stormy Daniels, who just testified in the Trump hush money trial....

Associated Press

Adult film star testifies in Trump hush money case

Donald Trump's attorneys have unsuccessfully pushed for a mistrial during the testimony of porn actor Stormy Daniels. She was testifying at Trump's hush money criminal trial that she had a sexual encounter with Trump after meeting him at a Lake Tahoe celebrity golf outing where her studio was a sponsor.

1 month ago

This photo provided by NASA shows an Eta Aquarid meteor streaking over northern Georgia on April 29...

CHRISTINA LARSON, AP Science Writer

The Eta Aquarid meteor shower, debris of Halley’s comet, peaks this weekend. Here’s how to see it

The Eta Aquarid meteor shower, remnants of Halley's comet, peaks this weekend.

1 month ago

Actor Mark Hamill takes off sunglasses given to him by President Joe Biden, as he joins White House...

COLLEEN LONG, Associated Press

‘Star Wars’ actor Mark Hamill drops by White House for a visit with ‘Joe-bi-Wan Kenobi’

"Star Wars" actor Mark Hamill has dropped by the White House for a visit with President Joe Biden.

1 month ago

Sponsored Articles

Underwater shot of the fisherman holding the fish...

Bear Lake Convention and Visitors Bureau

Your Bear Lake fishing guide

Bear Lake offers year-round fishing opportunities. By preparing ahead of time, you might go home with a big catch!

A group of people cut a purple ribbon...

Comcast

Comcast announces major fiber network expansion in Utah

Comcast's commitment to delivering extensive coverage signifies a monumental leap toward a digitally empowered future for Utahns.

a doctor putting her hand on the chest of her patient...

Intermountain Health

Intermountain nurse-midwives launch new gynecology access clinic

An access clinic launched by Intermountain nurse-midwives provides women with comprehensive gynecology care.

Young couple hugging while a realtor in a suit hands them keys in a new home...

Utah Association of Realtors

Buying a home this spring? Avoid these 5 costly pitfalls

By avoiding these pitfalls when buying a home this spring, you can ensure your investment will be long-lasting and secure.

a person dressed up as a nordic viking in a dragon boat resembling the bear lake monster...

Bear Lake Convention and Visitors Bureau

The Legend of the Bear Lake Monster

The Bear Lake monster has captivated people in the region for centuries, with tales that range from the believable to the bizarre.

...

Live Nation Concerts

All the artists coming to Utah First Credit Union Amphitheatre (formerly USANA Amp) this summer

Summer concerts are more than just entertainment; they’re a celebration of life, love, and connection.

Apple is 1st US company to be valued at $2 trillion