Apple is now worth $2 trillion Paul Lamonica-Profile-Image

Wednesday - 19/08/2020 13:16
Apple's success has also vaulted CEO Tim Cook into the ranks of billionaires -- one of the few CEOs to reach that level without having started the company he leads.

New York (CNN Business) - Among its many accomplishments -- the iPhone, the iPad, iTunes, the App store -- Apple can now boast of one more: It is now worth more than $2 trillion, making it the first company in the United States to reach that milestone.

The iPhone maker's stock briefly hit the $2 trillion mark Wednesday. Shares have surged almost 60% this year and are at an all-time high. Apple (AAPL), currently trading at nearly $470 a share, is about to become more affordable for average investors to purchase, too. 

The company's stock will split four-for-one at the end of the month, which will cut the price of a single share to about $117. The value of Apple remains the same since the company will simply have more shares trading at a lower price. 

Tesla (TSLA) also recently announced a stock split -- a move that could attract more millennial and Gen Z investors.

Apple reached the $2 trillion mark just over two years after passing the $1 trillion level

The iPhone 12 feature that could help convince millions of people to upgrade their phones

It's not the first company in the world to be valued that high. Saudi Aramco topped that mark in December when it went public, but plunging oil prices have hurt the company's stock. Apple passed Saudi Aramcoearlier this month after reporting strong earnings.

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 Keywords: Apple

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