The total value of Apple stock passed $1.5 trillion in trading on the NASDAQ Wednesday, smack in the middle of a global pandemic that’s affecting all of the company’s major markets.
Apple is the first U.S. company to exceed $1.5 trillion in value. (Saudi Aramco is the only other company that has crossed this milestone; it was worth $2 trillion after its first day of trading post-IPO.)
The company’s stock was trading at around $352 per share at the time its market cap exceeded $1.5 trillion. The stock hit a low of $229 back in March as the pandemic set in, but investor confidence in the company’s post-coronavirus prospects grew steadily during April and May, then pitched sharply upward this week.
Some analysts believe investors may be feeling good about the revenue possibilities in Apple’s first 5G phone, which should be arriving later this year. They may also be optimistic about the Apple Watch, which, like Apple’s services business, seems well on its way to being a major…
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Source : fastcompany.com
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