August 2020

Apple Becomes First US Company to Be Worth $2 Trillion

In August 2018, the tech giant eclipsed the $1 trillion mark. Apple follows Saudi Aramco, which hit the $2 trillion plateau last December. Due to oil prices falling, Aramco is worth less than Apple as of now. This month, Apple CEO Tim Cook's net worth reached $1 billion thanks to the company's success. According to CNN Business, Apple shares are at an all-time high as of August 19. In 2020, the company's shares have increased by over 60 percent. Apple's stock has also more than doubled this year, even with the U.S. economy in a recession. CNN Business adds that its subscription products, including Apple TV+, are seeing increased sales.The upcoming premiere of Apple's iPhone 12 is also exciting investors.