Apple's Stock Approaching $500 Mark After Becoming $2T Company
Just two days after becoming a $2 trillion company, Apple continues to experience impressive momentum on the stock market, with shares in the company rising around four percent in intraday trading as of writing.
Apple's stock price is quickly closing in on the $500 mark and has more than doubled since bottoming out at $224 in late March. Despite the global health crisis, the company set a June quarter revenue record of $59.7 billion, buoyed by strong Mac and iPad sales as more people work, learn, and connect with others from home.
Apple recently announced a four-for-one stock split that will take effect for shareholders of record as of August 24, with split-adjusted trading to begin on August 31. This move will not directly affect the company's valuation.
Apple is one of several companies that has seen its stock price surge since March, alongside the likes of Tesla, Amazon, Microsoft, and Google.