Recently Apple stock has significantly increased following the higher than expected demand for the iPhone and hit the $2 Trillion market cap.
The technology industry has seen its largest increase, especially during the COVID pandemic, with many businesses requiring employees to work from home.
Apple surpassed the $2 trillion mark just before 11 am ET when its share price rose to $467.77. Shortly after Apple reached the $2 trillion mark, the shares dropped to $462.83, closing just under $1.98 trillion.
This isn’t the first time Apple has reached a trillion milestone. In 2018 on the 2nd of August, Apple surpassed the $1 trillion mark when its share price $207.35 following strong fiscal third-quarter earnings. In July, Apple surpassed Saudi Aramco to become the world’s most valuable publicly-traded company following the significant increase in sales due to the COVID pandemic.