Tech giant Apple becomes the first US company ever to hit a market valuation of $2 trillion. Yes, you read that right, the Steve Jobs founded company has defied all the odds to reach this incredible feat, testimony to the pandemic-defying performance of the Apple products especially the iPhone. It’s also been just two years since Apple hit a $1 trillion market cap, meaning the company has essentially doubled in value in just over 24 months
According to The Verge, Apple is not the first company in the world to hit the $2 trillion benchmark. Saudi Aramco, the gas and oil giant headquartered in Saudi Arabia, did so first. Aramco briefly hit the $2 trillion mark in December 2019 but has since dropped below that figure as its stock price wavers. Apple surpassed it as the world’s most valuable company on August 4th, 2020.
At $2 trillion, Apple’s value is greater than the economies of all but eight countries, according to data collected by the World Bank. Under Jobs, Apple released well-regarded products such as the Macintosh computer in 1984, the iMac in 1997, the iPod in 2001, the iPhone in 2007, and the iPad in 2010. Ive and Cook worked with Jobs after his other computer company, NeXT, was purchased by Apple in 1996.
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