iPhone Maker Apple Inc Becomes First US Company To Hit $2 Trillion In Market Value

United States (US) based tech giant Apple Inc has become the first publicly listed company to surpass the market capitalisation of $2 trillion, reports Business Standard.

Apple's share prices have surged by as much as 57 per cent since the beginning of the year, despite the blowout quarterly results in July month owing to the COVID-19 pandemic. This comes as the Wall Street investors have reposed faith in the iPhone ecosystem's prospects of further growth in the post-coronavirus world.

The company was able to get its loyal base of customers to shop for iPhones, iPads and Mac PCs online at a time when the traditional brick-and-mortar stores had remained shut due to the pandemic induced adverse circumstances.

It should be noted that with Amazon, Microsoft and Alphabet-owned Google all holding a market capitalisation of more than a trillion dollars, the big US technology behemoths are together worth more than $6 trillion.