Apple's market value has crossed the $2 trillion mark, putting it in a rare class of public companies.
Apple has officially become the first U.S. company worth a staggering $2 trillion. The iPhone maker hit the market after its stock price touched $467.77 on Wednesday, pushing its market cap higher than any other U.S. company in history.
More recently, Apple, seeing a slow decline in smartphone sales growth along with the rest of the industry, has been pushing other sectors of its business including its Services and Wearables arms. Apple is also set to launch its new flagship smartphone, the iPhone 12, later this fall. And while the device will be delayed beyond its normal launch window of late September due to the coronavirus pandemic, it, according to Wedbush analyst Dan Ives, is expected to spark what’s now as a sales “supercycle,” or a massive uptick in the number of people buying new iPhones.
The move will not only unlock additional margin for the business, which won’t have to pay fees to Intel any longer, but could push Apple’s laptops and desktops even further ahead in terms of raw performance power.
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