Apple has hit a $2tn market capitalisation, barely 24 months after it became the world’s first trillion-dollar company.
The Silicon Valley pioneer is the first in the US to achieve such a valuation on the public markets and only the second in the world to do so. The shares added 1.3 per cent to trade at $468.40 by mid-morning in New York.
State-backed oil company Saudi Aramco briefly hit the milestone during intraday trading last December, on the day after its initial public offering, but its shares subsequently closed below the $2tn dollar mark. Aramco’s stock market fortunes have waned since its IPO to trade at a market valuation of around $1.8tn, and Apple surpassed it last month.