Apple now valued at US$2 trillion

Apple has become second company ever to be valued at US$2 trillion.

Apple is now valued at US$2 trillion due to sales of its phones amid the coronavirus.

The technology company was the first to be valued at US$1 trillion just two years ago, but only the second to reach this milestone after Saudi Arabia’s Aramco did so late last year.

Apple has seen its shared jump almost 60 per cent in 2020, even with the ongoing coronavirus which saw its factories in China, where the pandemic started, shutter. Despite the global crisis, customers continued to push sales of the company’s iPhones and other devices with online purchases.

Apple saw its value increase after a stock split was announced three weeks ago which will make its shares more affordable.

Saudi Aramco, which is now valued at around US$1.82 trillion, reached the US$2 trillion mark when it was listed as a public company last December. However, the energy company has seen its value fall-off somewhat with the drop in global oil prices due to decreased demand amid COVID-19.