Apple is 1st US company to be valued at $2 trillion

Apple is first U.S. company to boast a market value of $2 trillion, just two years after it became first to reach $1 trillion.

Apple shares have gained nearly 60% this year as company overcame shutdown of factories in China that produce iPhone and closure of its retail sales amid coronavirus pandemic.

company's hugely loyal customer base trusts its products so much that y continued to buy iPhones and or devices online while stuck at home. Apple recently reported blowout earnings for April-June quarter,

An upcoming four-for-one stock split that will make Apple’s shares more affordable to more investors also sparked a rally after it was anunced three weeks ago.

Apple has been at vanguard of a group of Big Tech companies that are increasingly taking over people’s lives — and stock market. Just five companies — Apple, Microsoft, Amazon, Facebook and Google’s parent company — account for nearly 23% of S&P 500’s entire value.

Saudi Aramco reached a market value of $2 trillion shortly after becoming a public company in December 2019. Saudi energy producer's shares have fallen since amid a drop in oil prices and its market value is w about $1.82 trillion.