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Apple surpasses the capitalization threshold of 1.5 trillion USD despite Covid-19
May
Apple surpassed the threshold of 1.5 trillion USD in the last trading session on June 10. Officially becoming the first American company to do this.
Despite the uncertainties caused by the Covid-19 pandemic. The Cupertino technology giant ‘s stock price reached a record high when it increased 2% in the trading session on June 10, bringing the company’s market value to a record level of 1.53 trillion. USD.
Apple shares closed at $352.84, up 2% on the day. Market capitalization is the stock price multiplied by the number of outstanding shares. It is estimated that at the present time, Apple has about 4.3 billion shares outstanding.
In fact, the company’s stock has continuously declined over the past few years due to its aggressive share repurchase programs. However, this number of shares still represents its value, reflected in the total market capitalization.
After surpassing the $1.3 trillion mark in January 2020, Apple’s stock price continuously decreased throughout the remaining time due to the Covid-19 pandemic. By the end of March 2020, Apple’s stock price had decreased by 35% compared to January 2020.
However, as measures to relax social isolation were applied in many countries around the world and companies began to return to normal operations, Apple’s stock price increased steadily again and reached a record peak. record last Wednesday.
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Other US companies with high market capitalization are Microsoft (1.48 trillion USD), Amazon (1.32 trillion USD), Alphabet (996.84 billion USD), Facebook (676.69 billion USD USD), Berkshire Hathaway (473.17 billion USD) and Visa (427.83 billion USD). Microsoft is a company that is competing fiercely with Apple in terms of market capitalization and the gap is continuing to narrow.
According to economic experts, technology companies such as Google, Facebook, Apple,… face less difficulties than other companies because employees can easily switch to an online working model, thereby ensuring maintain work productivity.
According to some analysts’ predictions, Apple is on a favorable path to becoming the first American company to reach the milestone of $2,000 billion in market capitalization within the next few years. The company’s upcoming iPhone 12 5G series is expected to help the company quickly achieve this goal as soon as possible.
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