Editor’s note: The following is a transcript of the accompanying video. ©2020 Thomson Reuters.
Apple made history Wednesday [19 August], becoming the first publicly listed US company with a $2 trillion stock market value. The iPhone maker’s milestone comes as the S&P 500 and Nasdaq indexes hit all-time highs on Wednesday.
Apple shares have surged since blowout quarterly results in July that saw the company eclipse Saudi Aramco as the world’s most valuable listed company.
The moves reflect growing investor confidence in Apple’s shift towards relying less on sales of their gadgets and more on services for its users.
Apple’s revenue grew across every category and all of its geographical regions in the June quarter, even as global health concerns caused Apple stores to shutter and the US economy to sink.
Now, the big US tech companies — Amazon, Apple, Google, Facebook, and Microsoft — together are worth more than $6 trillion.