Quixplained: At $2 trillion, Apple is the most valuable company in the world

On August 19, Apple became the first US company to cross the $2 trillion market cap, securing a position as the most valuable company in the world. Apple dislodged Saudi Aramco, which previously held the title.

In the April-June quarter of 2020, Apple earned 12 per cent more than it did in the same period in 2012. At a time when iPhone sales dropped due to Covid-19, its success was buoyed by its services like Apple TV and Apple Music. The new iPhone SE also made a difference.

Apple is not alone is reaping benefits amid the coronavirus pandemic. Amazon, Microsoft and Alphabet, too, are some US companies that have seen their stock prices surge.

Apple is the first company with trillion market cap. Apple earned 12% more in the 2020 April-June quarter than in the same period in 2019. Apple’s stock buybacks since 2012 is worth almost $360 billion.

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