Apple becomes First Public US Company to Hit $2.5 Trillion Market Cap

by Emily on July 15, 2021

in Apple, iPhone, Tech News

After rallying for two consecutive days, Apple has managed to hit a new record high stock price and a market capitalization of $2.5 trillion in pre-opening trading on Thursday.

The American multinational tech company’s shares were up over 2% in trading on Wednesday, which saw a market valuation exceeding the $2.5 trillion threshold for the first time ever. This new milestone comes in just 11 months after Apple hit $2 trillion.

The company is now known as the first publicly traded US firm to have reached beyond the $2.5 trillion valuation mark.

Earlier this month, the tech company’s share price reached record highs during a rally that has lasted for a couple of weeks. Since the beginning of 2021, Apple shares have soared to 14.33%.

Apple hit $2 trillion for the first time on August 19 last year, which then plunged after a mass tech stock sell-off, but made a comeback on September 4, 2020.

When the company announced its decision to move to Apple Silicon during WWDC in June last year, it was only after passing $2 trillion that it finally launched its first M1 lineup. That lineup’s technical advancements have been utterly praised and have led to increased Mac sales even though the rest of the industry slowed down.

Despite the challenges brought about by the COVID-19 pandemic, Apple launched its iPhone 12 range, which turned out to be a great success – it had been described as a supercycle in iPhone sales and became the top-selling 5G phone in the world shortly after it was launched.

Since reaching the $2 trillion mark, Apple has also launched its Apple One bundle of services, which included the release of Apple Fitness+.

The company has continued to make many more hardware releases amid the pandemic. Aside from the brand new AirTags, Apple released revised editions of the iPad Pro, the Apple TV 4K and a redesigned 24-inch iMac.

Prior to each of all these successful launches, analysts have predicted Apple can reach $3 trillion market cap by the end of 2021.

Apple analyst Daniel Ives said, “Given the fundamental strength we are seeing for this supercycle, coupled by a further re-rating on the horizon, we believe Apple will hit $3 trillion in market cap by year-end.”

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{ 1 comment… read it below or add one }

TechyJeev July 19, 2021 at 12:10

While talking about apple, recently I watched a video of Steve Jobs regarding his story. He mentioned ” Apple threw me out because I’m different, but thinking different rescues apple from its debt”. Steve Jobs rescues Apple by using nike’s marketing strategy, Which impressed me a a lot.

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