Apple has managed to shine amid the gloom, putting it on the cusp of becoming the first U.S. company to boast a market value of $2 trillion, just two years after it became the first to reach $1 trillion.
FILE - In this Tuesday, June 16, 2020 file photo, the sun is reflected on Apple's Fifth Avenue store in New York. With its stock already up 50% this year, the only question among analysts is whether Apple will pass the $2 trillion milestone before the release of its next-generation iPhones in October.
It looks like “a performance for the ages," as Wedbush Securities analyst Daniel Ives described it last week after Apple released unexpectedly strong earnings for an April-June quarter during which most U.S. consumers were stuck at home and the company's U.S. stores were closed most of that time. An upcoming four-for-one stock split that will make Apple's shares more affordable to more investors also sparked a rally after it was announced last week.
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