Apple becomes first US company to reach $2 trillion in market value

Apple's first US company reach $2 trillion in market value in the latest demonstration.  

The iPhone maker complete the distinction in mid-morning trading and was up 1.1 % at $467.18 near 1545 GMT.

In March 2018 company had previously become the first giant to hit $1 trillion in market value. in March 2018.

Apple is followed by other technology companies, including Microsoft, Amazon,  and Google parent Alphabet, all of which now have more than $1 trillion in market value.

Shares in Apple have roughly doubled from March lows, an astonishing performance which has lifted chief executive Tim Cook´s net worth to $1 billion for the first time, according to a Bloomberg Index calculation.

Even as other large tech firms have shot higher on robust demand during lockdowns, Apple has overcome its rivals by delivering strong sales of wearables and tablets, and also with new apps and services. Apple have gained ground during the global health crisis.

Apple has been successful in building its platforms, mitigating the fact that iPhone sales had peaked, by building products that surround it and all feeds back into the cycle for Apple.

In the past quarter ending in June, Apple reported profits eight percent to $11.2 billion and revenues jumped 11 percent to $59.7 billion.

Work-from-home:

A major factor in Apple´s success has been the leadership from Cook, who took over just ahead of the death of Steve Jobs in 2011.

He did not invent anything. What he has done to keep a firm hand on the tiller, steering the ship and keeping the culture intact. 

Apple deserves a lot of credit for making the most out of Steve Jobs´s inventions.

Apple´s rise comes to a broader rally in technology shares as employees around the country and shifts to work at home. The coronavirus pandemic and social distancing protocols.

The tech-rich Nasdaq has hit records more than 30 times in 2020.

In the most recent quarter, Apple really enjoyed a modest rise in smartphone revenue and robust increases in sales of Mac and iPods computers. Due to COVID-19 its elevated demand for remote education and work-from-home buyers.

The company takes benefit from services such as digital payments and streaming. And from increased sales in smartwatches as interest into health and fitness applications rises.

Success brings scrutiny

The dominance of Apple and other tech giants has prompted increased oversight from regulators and lawmakers, including on Capitol Hill. where Cook and the CEOs from Amazon, Facebook and Google all were grilled at a high-profile July hearing.

Simply they put there too much power

Cook faced tough questioning over the market power of the company´s App Store during the session and its treatment of developers.

Some analysts believe efforts to break up tech giants.

Another wildcard for Apple involves risks from heightened tensions. Due to the United States and China since Apple not only manufactures iPhones and other products but there are also relies on that market for a large chunk of sales.