Apple is Creeping Up on a $2 Trillion Market Capitalization
Apple shares have surged in recent weeks, pushing the company's market capitalization near $2 trillion, according to Markets Insider.
This would make Apple the first US company to reach the $2 trillion mark. Shares of Apple have surged recently and are up 2.55 percent to an intraday high of $451.58 on Thursday. Apple shares need to reach around the $468 mark to achieve the $2 trillion valuation, calculated by multiplying outstanding shares and the current share price.
Apple is up 48 percent year-to-date, despite the global pandemic shutting down many of its stores. The technology sector overall has fared well throughout the pandemic, as work from home policies boost sales.
Apple also recently announced that on August 24 it will enact a 4-1 stock split. Trading on a split-adjusted basis starts August 31.