Apple Is Now Worth $2 Trillion, More Valuable Than Almost All Economies In The World

In 2018, Apple became a trillion-dollar company after Wall Street investors pushed its market capitalization, following which the iPhone maker became the world’s most valuable tech firm.

And now, despite all the recession and chaos caused by the COVID-19 pandemic from the beginning of the year, the company has doubled its worth.

On Wednesday, August 19, 2020, at around 7:53 AM PT, Apple’s share price hit $467.55, with a total of almost 4.3 million shares, the company is now worth $2 trillion. The milestone comes before the firm’s stock split that’s planned for August 24. The stock split would quadruple the number of shares and the share price is one-fourth of the current amount. According to the firm, the stock split will help more people buy its shares more easily.

While the milestone is symbolic, it also highlights the incredible growth of the company since its near-bankrupt situation in 1997. Overcoming all obstacles, Apple is now the titan of the tech world. Its success is largely contributed to its leaders like Steve Jobs, Jony Ive, and Tim Cook.

When Steve Jobs was running Apple the company released several well-regarded products like the Macintosh computer (1984), the iMac (1997), the iPod (2001), the first iPhone (2007), and the iPad (2010). Jony Ive and Tim Cook worked with Steve Jobs after Apple bought the computer firm NeXT in 1996.

At $2 trillion, Apple is worth more than all countries’ economies except for 8 nations, according to the World Bank’s data.

Before Apple, the milestone was achieved by multinational oil and gas company Saudi Aramco based in Saudi Arabia. It reached the $2 trillion mark on the second trading day on Saudi stock exchange last December after it held the biggest IPO in history, which raised $25.6 billion.

After the Cupertino-based company reached the $1 trillion mark, Tim Cook said to staff in memo:

“Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to our values.”

The CEO has said many times that investors who want Apple to focus on stock performance instead of products should not invest in the firm.

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