Apple became the first American company to reach a $2 trillion market capitalization. It should be noted that the previous important capitalization milestone of $1 trillion was crossed about two years ago, at the beginning of August 2018. Thus, the Apple market value has doubled in 24 months.
Apple is not the first company to achieve a capitalization of $2 trillion. The first company that achieved such success was Saudi Aramco, a gas and oil giant headquartered in Saudi Arabia. Saudi Aramco briefly hit the $2 trillion mark in December 2019 but has since fallen due to fluctuations in its share price. On August 4, 2020, Apple surpassed it as the world's most valuable company.
On August 19, 2020, the value of Apple's shares passed the $467,77 mark, which allowed Apple to reach a capitalization of $2 trillion. But in the future, if the share price falls, the company's market value may fall below this level.
Apple's stock value has fluctuated for years, but in 2020, its price has increased by more than 50%, despite the general economic slowdown caused by the COVID-19 pandemic. Since the beginning of June, the company's shares have grown by an average of 3,5% every week. And after the publication of the last earnings report in July, the price of securities has risen sharply.