New York reported that on Wednesday, Apple Company became the first US company that reaches $2 trillion in the market during the coronavirus pandemic. Basically, the iPhone marker attained attention when trading was up 1.1 percent at $467.18 near 1545 GMT. If we see the previous report, you will see the company became the first giant and hit $1trillion in the market in March 2018.
Apple company is followed by some other companies in which Amazon, Microsoft, and Google parent Alphabet are included. They have reached more than $1 trillion in market value. According to a Bloomberg Billionaires Index calculation, this hit also lifted chief executive Tim Cook’s net worth for the first time. The company also delivered other gadgetry such as tablets and wearable during the global health crisis.
An analyst Avi Grrengart said, “Apple company is successful in building out its platforms, and the fact is that iPhone sales reached on peaked.” In the mid of June, the company reported profits climbed eight percent to $11.2 billion, and revenues jumped 11 percent to $59.7 billion.
Everyone gives the success credit to Tom, who took over ahead of the death of Steve Jobs in 2011. Another analyst Laura Martin at Needham & Company, said, “he did not invent anything, but he has done a firm hand on the tiller, steering the ship and keeping the culture intact. So he deserves the credit for making the most out of Steve jobs’ interventions.
Apple enjoyed the rise in smartphone revenue and robust increases in iPads and Mac computers’ sales for remote education and home buyers’ work. The company also got benefits from services such as digital payments and streaming, and sales of smartwatches also increased due to the rise in health and fitness applications.
Still, the new iPhone 12 was launched, and the company is getting a massive benefit from all over the world.