Apple Reaches Record-Breaking $1.53 Trillion in Market Value
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The economy may be tanking because of the coronavirus pandemic, but that isn’t stopping Apple’s stock from climbing to another record high. Not only is the company’s stock on the way up, but Apple also has become the first company in the United States to hit $1.5 trillion in market value.
Market value is the price of the company’s stock multiplied by the number of shares. With a current price of $352 per share and over 4.3 billion shares, Apple’s market value reaches a staggering $1.53 trillion. The only other company to cross this threshold is Saudi Aramco, an oil company based in Dhahran, Saudi Arabia.
Apple’s stock has rebounded steadily after reaching a low of $229 back in March when the coronavirus pandemic emerged on a global basis. This consistent climb suggests investors are confident Apple will perform strongly in this post-pandemic economy.
Analysts reportedly are optimistic about the upcoming iPhone 12, which will launch with 5G connectivity. It’ll be the first phone to ship with this next-generation wireless network. Apple may release a pair of lower end iPhones with a dual-lens camera and display sizes of either 5.4-inches or 6.1-inches. The company also is planning two Pro models equipped with a LiDAR scanner and ProMotion OLED displays in either 6.1-inch or 6.7-inch configurations.
The Apple Watch may be another promising device in Apple’s future. Though Apple does not break down sales for its Apple Watch, analysts believe Apple has sold more than 7.6 million watch units in Q1 2020 alone. The next-generation Apple Watch is expected to debut this fall with critical new features such as sleep tracking and improved battery life.
Apple may unveil both the Apple Watch Series 6 and the iPhone 12 in a September press event. Both devices are expected to debut this fall, though the exact timing of this launch, especially the iPhone 12, is uncertain. Some reports suggest Apple may delay the iPhone 12 to October instead of releasing it in September as it has done in past years.