The tech giant slid just above $2 trillion on Wednesday before falling to $1.98 trillion hours later.
We may be in the middle of a pandemic that has caused economists to keep a keen eye on the United States, but companies and their owners continue to surge to new heights. We've read through numerous reports of Amazon mogul Jeff Bezos reaching a staggering net worth upwards of $180 billion, and on Wednesday (August 19), news circulated that Apple has hit a new milestone, as well—and it continues to climb.
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According to a report made by CNBC, the mega-tech company has reportedly "[doubled] in valuation in just over two years," making Apple "the first publicly traded U.S. company" to "hit a market cap of $2 trillion." The company's big news came around 11:00 a.m. but as the day moved forward, it slid back just below the $2 trillion mark at $1.98 trillion.
It's reported that it was back in 2018 when Apple first cross that $1 trillion line, and other megacompanies like Amazon and Microsoft were hot on its heels. At the end of the month, Apple's stock will reportedly split four-for-one. The value will remain the same, however, there will just be more shares available for trading at a lower price point. It's slated to be somewhere around $116 a share.