Apple the first US company to reach a valuation of $2tn

Apple has become the first US company to reach a valuation of $2tn converting to roughly £1.5tn on the stock market.

The company was also the first to reach the one trillion-dollar mark just two years ago in 2018.

The only other company internationally to reach these heights was Aramco a Saudi state backed company.

However, the value of Aramco has reduced and therefore, Apple is now at the top.

But, not the first US company to break records in the past few monthsTesla became the worlds most valuable carmaker.

Apple shares have increased more than 50% this year, despite the international pandemic forcing retailers to close their doors.

Despite the current recession of the US most tech firms have seen stocks surge in the past weeks.

Apple’s rapid share price rise is “an impressive feat within a short period of time”, said Paolo Pescatore, a technology analyst at PP Foresight.

“The last few months have underlined the importance of users and households alike to own better quality devices, connections and services and with Apple’s strong broad portfolio of devices and a growing services offering, there are plentiful opportunities for future growth.”

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