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Apple becomes first $2 trillion U.S. company

Muhammad UsmanMultimedia Journalist

21st Aug, 2020. 12:48 am
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Apple not selling iPhone 11

Apple becomes the first United States technology company to reach $2 trillion in just over two years.

On Wednesday around 7:53 am PT, Apple’s stock hit $467.55 a share. It was then multiplied by the outstanding shares that are nearly $ 4.3 million. Apple’s stock reached at $2 trillion, give or take a few dollars.

Apple’s shares have been on a tear for years but during this pandemic, the company performed well and gained more than 50 percent.

In late July, the company had a record good third quarter with sales of $59.7 billion and double-digit increases in its goods and services. During the quarter, Apple saw widespread retail closures, particularly in the U.S. but said the work-from-home trends and strong online sales boosted overall operations.

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