THE APPLE OF
INVESTORS’ EYES
Global crisis? What global crisis? On Wednesday morning, Apple's stock hit $467.55 a share, which values the tech giant at $2 trillion, just two years after hitting the $1 trillion milestone.
What’s most astounding about this historic vertical leap is that the entirety of Apple’s second $1 trillion accrued during the last 21 weeks, even as the pandemic caused the greatest contraction of the global economy in history.
The company's stock split scheduled for 8/24, which will quadruple the number of shares and divide each share's value by four, with the intention of making Apple stock more affordable.
At $2 trillion, CNET noted, citing World Bank data, Apple's value is greater than the economies of all but eight countries. It becomes just the second company to hit $2 trillion, following Saudi Aramco.
Apple is expected to release its eagerly anticipated 5G iPhone next month.
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