Apple hits $2 trln market cap
Apple hit a market capitalization of $2 trillion on Wednesday, becoming the first publicly traded US company to reach that milestone.
Based on a share count of more than 4.275 billion, Apple broke the barrier just before 11 am ET Wednesday, as its share price rose to $467.77.
Apple shares traded at a high point of $468.65 during the day and $462.83 per share at closing.
Apple first reached a $1 trillion market cap on Aug 2, 2018, and now accounts for close to 7% of the S&P 500's total market value.
Its market capitalization is about equal to the combined values of the S&P 500’s 200 smallest companies.
Apple surprised Wall Street, as it was able to get loyal customers to buy iPhones, iPads and Macs online even as several brick-and-mortar stores remained closed due to the coronavirus lockdowns.
Apple has pushed its revenue beyond the economic outputs of Portugal, Peru and other countries.