This archive report was first published on 20 August 2020.
On August 19, 2020, Apple's share price hit $468.65, pushing the company's market value to $2.004 trillion with a share count of over 4.275 billion.
This achievement marks a significant milestone for the company, which was also the first to achieve the $1 trillion market capitalization in August 2018.
Apple's market capitalization now accounts for approximately 7% of the S&P 500's total value, demonstrating investor confidence in the company's strategy and its widening software product portfolio.
The company's success can be attributed to its ability to adapt to the pandemic, with customers showing loyalty to the brand by moving their purchases online.
Apple's revenue for Q3 ended June 27, 2020, was $59.7 billion, exceeding expectations despite the temporary closure of its retail stores due to the pandemic.
The company plans a four for one stock split of its common stock from August 31.
