Back in August 2018, it was Apple itself that hit a market valuation of $1 trillion. It was the first U.S. Company in History to have reached the same. Currently, in 2020, last Wednesday, it became the first publicly traded U.S. company to hit a $1.5 Trillion market capitalization, with shares of AAPL trading at $352.84 by the end of the day. It is to be noted that the market capitalization is the share price multiplied by the number of outstanding shares. So in the line, Apple has about 4.3 billion outstanding shares.
There has been no doubt about the fact that the aggressive stock buyback programs over the past few years have led to sliding in the Company’s total count of shares. However, at the same time, the fewer number of shares are reflected in market capitalization calculations.
Much amusing is the fact that these high records have been set during the time of depression or financial crises due to the lockdown that was lead by the prevailing pandemic. These high records were set after a strong performance of Apple earlier this week that pushed AAPL to such height. It has also been rumored that some analysts predicted that Apple has been showcasing a clear path to become the first U.S. Company to hit a $2 Trillion milestone within the very next few years.
After the major threat faced by the Company in the past few years, the Company has toiled hard to launch more products to compensate for the slowdown in the consumption of smartphones by the consumers. It is this endeavor that has resulted in such high growth finally qualifies the statement that hard work pays off. The benchmark created by apple in the depression times would be worth remembering in the years to come. No doubt, it is one of the leading companies in the world.
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