Apple has become the first company on the planet to reach the milestone of becoming a $2 trillion-dollar company. iPhone manufacturer has gained more than 60% increase in its share price in 2020. In spite of global pandemic and halted production the company has managed to increase its net worth. Before a couple of months, after the outbreak of viruses the company has ordered to temporarily stop the entire process in the production units located in China and closed most of its outlets all over the world. This impact also affected the iPhone 12 release date by postponing the previously scheduled date.
More investors have chosen Apple shares to park their money during tough times. This is not the first time Apple shares have seen massive growth within a short span of time. This is a regular scenario that happens every time that global recession enters the market. We have seen plenty of examples in the past years.
Apple known for producing iPhones has also invested in creating several other hardware and software applications. Their products are mostly known for their brand value and high cost. Most of the big tech giants operated from the US have a total net worth of $6 trillion. Apple continued to ship its products through online shopping even during the shops are closed around the clock.
Apple has recently announced their net worth of the company, this announcement is seen as the potential news and thereby we can expect the share price of the company might get increased in the upcoming days. Revenue generated in the last quarter of the annual year continued to rise in spite of several hurdles. This news is announced at the time the US government is facing several economical crises.
Apple was founded in 1976 by Steve Jobs in his garage. His vision has created several other products that revolutionized the industry once and for all. Before few years Microsoft is seen as a healthy competitor in creating an operating system. Once Apple started developing mobile handsets, the vision of the company got a wider aspect to meet the demands of the feature generation. iPhone was considered one of the successful products in the history of Apple.
The first Apple iPhone was launched by Steve jobs which gained a maximum response from the users. It was one of the first smartphones which had a touchscreen option and apple made a pattern for using a touch screen option. User Experience is an important feature that Apple. It has always strived hard in creating a unique design in its product.
Soon after the announcement about their milestone, the share price of the company rose at 1.4%. This shows that how this announcement has impacted the Wall street market. The company has created its stores in many European and Asian countries which is one of the prime factors behind the increase in their sales. I could remember that Tim Cook Current CEO of Apple made an announcement on reaching a $1 trillion milestone and mentioned that financial returns of a company are simply the result of the new innovation which is putting Apple’s products and customers first.
It’s a short period that with five years the company has to reach this point. The company gained a major portion of their income through pattern rights and through payment gateways other than selling hardware products. The latest reports reveal that the worth of the company is higher than the GDP of many European countries which have less than a trillion economy.