Apple is the first company to be worth this much

Aug 20, 2020 06:05 GMT  ·  By

Apple has just set a new record, as the company officially became the first in the worth to be worth $2 trillion.

The whole thing happened a few hours ago when the APPL stock reached $467.80, pushing the company’s market value beyond the $2 trillion threshold.

The Cupertino-based tech giant has had a hard time in early 2020, especially due to the struggles caused by the global health issue when it was forced to close its retail stores and keep employees at home.

Several of its production partners have been forced to shut down manufacturing facilities and suspend their operations, and it was speculated that this might have caused a potential delay of the iPhone 12 too – iPhone 12 is projected to launch in the fall of this year, possibly in October.

Apple’s shares thus dropped to no less than $230 in March due to all these issues, but as it turns out, the company has managed to recover in record time, breaking the $2 trillion barrier and once again becoming the most valuable company in the entire world.

Continued growth

And now everybody expects the growth to just continue in the coming months, especially as new iPhone models are just around the corner.

Apple is betting big on 5G this year, as all the new iPhones in the 2020 lineup are expected to support it. Furthermore, Apple is also working on a new model with a 5.4-inch screen that could hit the market with a lower price tag, all in an attempt to convince more Android users to make the switch but also existing iPhone users with older devices to upgrade.

The new iPhones are projected to see the daylight in just a few weeks, yet right now it’s still not known if Apple wants to hold the new event in September or October.