This iPhone maker almost went bankrupt in the 1990s and is now the most valuable technology company on the planet. Just two years ago, Wall Street investors pushed Apple’s market value to $1 trillion, making it the world’s most valuable technology company.
Now, even in the face of the coronavirus pandemic, the market believes that Apple is twice as valuable as the latter.
At 7:53 am Pacific time on August 19 (Wednesday), Apple’s stock price reached $467.55 per share, multiplied by nearly 4.3 million shares outstanding, Apple’s market value reached $2 trillion, buy or sell a few dollars.
The move was made before the company plans to conduct a stock split on August 24. The plan will multiply the number of shares by 4 and divide the value of each share by 4.
Apple said it has begun a stock split to make it easier for more people to buy the company’s stock.
Milestones are largely symbolic. Nonetheless, it still highlights the improbability that Apple has gone from almost bankruptcy in 1997 to today’s industry giant.
Apple’s success is largely due to the work of people such as Steve Jobs, the company’s late co-founder and CEO, former head of design Jonny Ive, and current CEO Tim Cook. leadership.
Under the leadership of Jobs, Apple released widely acclaimed products such as the Macintosh computer in 1984, the iMac in 1997, the iPod in 2001, the iPhone in 2007, and the iPad in 2010. , Purchased by Apple in 1996.
According to data collected by the World Bank, Apple’s market value reached 2 trillion US dollars, more than all countries except eight countries.
Apple followed Saudi Arabia-based multinational oil and gas company Saudi Aramco to achieve this milestone. Saudi Aramco held its largest initial public offering (IPO) in history and raised US$25.6 billion in stocks
It reached US$2 trillion on the second day of trading on the Saudi Stock Exchange in December.
According to Reuters, Apple CEO Tim Cook said in a memo to employees: “Financial returns are only the result of Apple’s innovation. It puts our products and customers first, and Always adhere to our values.”
Cook often said that investors who want Apple to focus on stock performance rather than its products should not invest in the company.
A historic moment also appears on Apple’s expected release of its highly anticipated 5G iPhone, which supports next-generation cellular wireless data transmission speeds that maybe 10 times faster than today’s mobile phone download speeds. For example, this means that people can download an entire season of TV shows in seconds.
Analysts said they expect that the new features of the upcoming device will trigger a “supercycle” of sales, in which a large number of iPhone users and new buyers will purchase the device.