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As iPhone Maker Hits $2-Trillion Market Value, Here's All You Need To Know About Apple
20 Aug 2020, 10:01 AM IST 
The Apple stock has risen nearly 60% so far this year
- At the intraday high of $468.65, Apple's market value was $2.004 trillion.
- Apple shares have risen nearly 60 per cent so far this year.
- Apple now accounts for close to 7 per cent of the S&P 500's total market value. Its market capitalization is about equal to the combined values of the S&P 500's 200 smallest companies.
- The technology stocks-heavy Nasdaq Composite index - one of the three main indices of the US markets - has hit records over 30 times so far in 2020.
- Analysts say the growth in the price of Apple shares is a reflection of how the coronavirus pandemic has boosted demand for technology- as well as consumer-oriented businesses.
- Apple is also boosted by a broader rally in tech shares as the rise of coronavirus pandemic-related restrictions has forced consumers to work from home and yet stay connected.
- Apple is followed by other tech companies such as Amazon, Microsoft and Alphabet, each of which has a market value of over $1 trillion.
- In the quarter ended June 30, Apple reported an 8 per cent rise in profit to $11.2 billion over an 11 per cent growth in revenues to $59.7 billion. The company saw a modest increase in iPhone sales.
- "In uncertain times, this performance is a testament to the important role our products play in our customers' lives and to Apple's relentless innovation," Apple CEO Tim Cook said last month, as the company posted its financial results.
- In March 2018, Apple had become the first listed American company to achieve a market capitalisation of $1 trillion.
