Apple first U.S. company to hit $2 trillion market cap
Apple has become the first publicly traded U.S. company to hit a $2 trillion market capitalization, with shares of AAPL hitting $467.77 during intra-day trading.
Apple's valuation crossed the $467.77 threshold for a $2 trillion valuation briefly on Wednesday. At press time, the share price is oscillating around the threshold.
The valuation comes shortly after Apple blew away all expectations for the June quarter. In that earnings report, Apple reported revenue of $59.7 billion for the third quarter of 2020, profoundly beating Wall Street estimates, in a quarter where the company continued to feel the effects of the COVID-19 pandemic. Overall revenue for Apple was up 11% from Q3 2019, when it reported a record-setting $53.8 billion.
At the same time, the company also announced a four-to-one stock split. Each Apple shareholder of record at the close of business on August 24, 2020 will receive three additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on August 31, 2020.
Apple was the first U.S. company in history to hit a market valuation of $1 trillion -- an achievement that it reached in August 2018. In June, Apple became the first publicly traded company to hit a $1.5 trillion market valuation.
The company's total count of shares has been sliding over the past few years due to aggressive stock buyback programs. The fewer number of shares are reflected in market capitalization calculations, however.
Apple's valuation crossed the $467.77 threshold for a $2 trillion valuation briefly on Wednesday. At press time, the share price is oscillating around the threshold.
The valuation comes shortly after Apple blew away all expectations for the June quarter. In that earnings report, Apple reported revenue of $59.7 billion for the third quarter of 2020, profoundly beating Wall Street estimates, in a quarter where the company continued to feel the effects of the COVID-19 pandemic. Overall revenue for Apple was up 11% from Q3 2019, when it reported a record-setting $53.8 billion.
At the same time, the company also announced a four-to-one stock split. Each Apple shareholder of record at the close of business on August 24, 2020 will receive three additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on August 31, 2020.
Apple was the first U.S. company in history to hit a market valuation of $1 trillion -- an achievement that it reached in August 2018. In June, Apple became the first publicly traded company to hit a $1.5 trillion market valuation.
The company's total count of shares has been sliding over the past few years due to aggressive stock buyback programs. The fewer number of shares are reflected in market capitalization calculations, however.
Comments
split? I know it doesn’t make much of a difference, but asking for insight anyway.
Steve Balmer was right about one thing in 2007.
That’s my target lol
In terms of the Epic shenanigans I feel that the worst case scenario is that the courts allow Fortnite back in the app-store as long as it adheres to the agreement until any final courts decisions. So worst case Apple keep making money from Fortnite purchases... I get the feeling Epic wouldn’t put the app back though, they’d rather cut off their own nose is my guess.
[edited to remove extra line feeds - Moderator]
Epic did all of this "grandstanding" to gain attention. That happened, and from here on, it will be all legal decisions and regulatory solutions, not opinions of the tech community.