Apple becomes the first $2 trillion valued tech company. Find out how?

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Apple, a U.S based tech company reached a market cap of $2 Trillion and becomes the first US company to reach such a huge market cap amid the pandemic. Two years ago in 2018, Apple was the first tech company to reach $1 Trillion followed by Amazon later that year and Microsoft later in April 2019. In a gap of 24 months, Apple has grown at such a faster rate for all reasons.

Today, Apple’s shares reach $467 and it reaches the $2 Trillion as reported by the Financial Times. It is also predicted that this growth may step back due to the current situation. It’s stock prices have increased at a growth rate of 3.5% every week since the beginning of June.

Before Apple, a Saudi Arabian oil and gas company Saudi Aramco hit the $2 Trillion market cap but it came down once the pandemic started. Apple hit the $1 Trillion market cap because of the increase in consumers of the iPhone. Now, it has hit the $2 Trillion cap because of all the subscription services provided by Apple for Apple Tv+, Apple Music, Apple Arcade, Apple News, iPhone upgrade program, iCloud storage. All of this subscription costs $112 dollars a month per user. The reason behind Apple’s growth is its services rather than the products. How will Apple reach the $3 Trillion market cap? 


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