Apple Inc hits $1.5 Trillion market cap By Elets News Network - 11 June 2020


Apple Inc has added another feather to its cap. Apple has become the first US company that reached $1.5 trillion market cap.

At a current price of $352 per share and 4.3 billion shares outstanding, Apple’s market cap hit around $1.53 trillion reports Mac Rumors.

According to reports, Apple may become the first company ever to touch the $2-trillion valuation mark in next four years. Apple was the first US company to cross the $1-trillion mark in 2018.

In the Wearables business, the analyst expects growth to $60 billion owing to the expansion of AirPods and Apple Watch. The Services business could grow to $100 billion in the next four years.

Also Read: Apple to introduce sensors to AirPods to monitor health

The analyst expects Apple to continue aggressively buying back stock.

As iPhones sale dip amid supply and demand uncertainties, Services segment is following a different trend for Apple, with strong year-over-year growth of 17 per cent and setting a new all-time revenue record of $13.3 billion in the company’s March quarter results this year.

The company saw all-time records in many of its Services categories – App Store, Apple Music, Video, cloud services, its App Store search ad business, AppleCare, Apple TV Plus, Apple Arcade, Apple News Plus and Apple Card.

Tags: Apple CIO News

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