Apple tops $2 trillion in market cap

Aug. 19, 2020 10:50 AM ETAAPL, MSFTBy: Kim Khan, SA News Editor222 Comments
  • Apple’s (AAPL+1.2%) market capitalization is rising above $2T, the first U.S. company to reach that milestone thanks to this summer's megacap rally.
  • Shares moved up to $467.81, breaching the level of $467.77 needed for the historic level.
  • It took two months for the company’s value to race to $2T from $1.5T hit on June 16. Apple’s market cap was $348.8B when Tim Cook took the helm on August 24, 2011.
  • The company went public in December 1980 at $22 per share, bringing its market cap quickly up to nearly $2B.
  • Twenty-six years later it hit a market cap of $100B in May 2007, just a month before the debut of the iPhone (the iPod came out in 2001).
  • In May 2010, Apple overtook Microsoft (NASDAQ:MSFT) as the most valuable company. In 2012, its market cap raced from $400B in January to $600B in April. And it became the first U.S. company to achieve a $1T valuation in August 2018 (PetroChina hit that market cap in 2007).
  • On its own, Apple would be the 10th-largest stock exchange in the world.
  • At these levels there are bearish takes. Read two: Apple: The Bear Case and Sell Apple And Buy Alphabet.

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