Apple shines through the pandemic with $ 2 trillion on the horizon
Apple shines through the pandemic with $ 2 trillion on the horizon

With Apple appearing to be in trouble in early 2020, it emerges amid an impending epidemic with a market value of $ 2 trillion.

The initial spread of the new coronavirus has led to the shutdown of iPhone assembly plants in China.

Apple also closed retail stores in the United States and its major markets.

Things looked worse in March after a global pandemic plunged the US economy into its worst recession since the Great Depression nearly a century ago.

Since then, Apple has managed to shine in the epidemic, becoming the first US company to be worth $ 2 trillion.

This could have happened in the first two years after it became the first publicly traded company in the United States to have a market cap of $ 1 trillion.

With the stock price up by 50% this year, the only question among analysts is whether Apple will cross the $ 2 trillion mark before the next generation iPhone hits the market in October.

At the end of last month, Apple released its third-quarter financial report and reported surprisingly strong earnings for the April-June quarter.

Most US consumers stayed home throughout the quarter, and during that time the US company's stores frequently closed.

Revenue increased 11% year-on-year to $ 59.7 billion, while net income increased 12% year-on-year to $ 11.25 billion, compared to $ 10 billion for the same period last year.

The company ignored the pessimists when the factory in China reopened in March and Apple customers also showed confidence in its products, so it continued to buy iPhones and other devices online.

The company also made a decision a few years ago to focus on selling digital services, which now includes music, video and the commission it collects in the app store that is the subject. Antitrust litigation.

The next stock split announcement on August 24 increased the popularity of Apple's stock price among investors and led to a stock price recovery.

Apple has always been at the forefront of large tech groups that increasingly control people's lives and the stock market.

Only five companies - Apple, Microsoft, Amazon, Facebook, and Google - account for roughly 23% of the total value of the S&P 500, which measures the stock market performance of the 500 large companies listed on the US stock exchange.

The market value of large technology companies has increased in recent years; Because even in the midst of the global economic downturn, they have seen tremendous growth and recently experienced explosive growth even during the pandemic. a plus.

Apple announced that its spring earnings per share rose 18% year-on-year, while expectations for the S&P 500 were down 34%.

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