- Companies: Big Tech are even bigger in the covid crisis
The technology giant Apple has become the first US company to reach two trillion dollars in market value on Wednesday . The figure is almost double the gross domestic product (GDP) of Spain.
Shares of the firm led by Tim Cook have reached $ 467.77 shortly before 11 a.m. local time on the New York Stock Exchange and marked that historical record, although the market is still open and may close for below.
Apple, which has nearly doubled its market capitalization in just two years, is the world's most valuable listed company and now the second to reach a market value of two trillion dollars. Saudi state oil company Saudi Aramco succeeded after it went public in 2019, although it has already lost that mark.
The firm of the bitten apple reached a trillion dollars on August 2, 2018, ahead of large technology rivals such as Amazon, Alphabet (Google's parent company) and Microsoft, and now history repeats itself despite a situation of coronavirus pandemic.
Analysts have highlighted this Wednesday the speed at which Apple has reached two trillion, since on the trading day of March 23 it fell below one trillion due to fears over the impact of Covid-19 on its businesses .
However, it has proven to resist the pandemic and even emerge stronger from the confinement stage in the US and Europe, since in the first half of 2020 its net profit increased by 4%, to 22,500 million dollars, with an improvement in the sales of 6%, which led him to enter 118,000 million .
The last quarter was a record and it was precisely the turnover of Mac computers, which have become a key part of the transition to teleworking, with a year-on-year increase of 22%, and of services such as the App Store or Apple TV, which grew by 15%. due to the need to interact online, while the increase in iPhones was 1.6%.
And all this having temporarily closed stores around the world and even closing them again due to the increase in cases, especially in the United States, an impact that was especially noticeable in April.
At mid-session on Wall Street, Apple continued to climb but at a slower pace and was at $ 466.98 per share , slightly below two trillion dollars.
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