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Apple has become America’s first 2 trillion dollar company, only two years after becoming the first company to be valued at $1tn by Wall Street.
The technology powerhouse behind the iPhone needed to hit a share price of $467.77 to reach the milestone and moved through that barrier briefly during mid-morning trading on Nasdaq exchange on Wednesday.
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(@tradingview)Apple just became the first company to have a market cap of $2 trillion.
Two. Trillion.
Here are two charts showing its journey since the day it went public on December 12, 1980. It’s up 76,000% since that day. The first chart is a % change chart and the second is log scale. pic.twitter.com/sDBMsRvRn1
The $2tn (£1.52tn) valuation means the company, co-founded to sell personal computers by the late Steve Jobs in 1976, is valued at significantly more than half of the US’s 2019 tax take.
Apple hit a $1tn market capitalisation in 2019, 42 years after it was founded and 117 years after US Steel became the first company to be valued at $1bn in 1901.
But it is not the first company in the world to smash the $2bn barrier.
Saudi Aramco reached the watermark after the Saudi state-backed oil company made its stock market debut last year.
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