Market Cap Hits $1.967 Trillion on 13th... "Recently Surpassed Aramco's Market Cap"
[Asia Economy Reporter Jeong Hyunjin] Despite the COVID-19 pandemic, Apple, which has continued its stock price rally, is aiming to surpass a market capitalization of $2 trillion (approximately 2,370 trillion KRW).
On the 13th (local time), according to Bloomberg News, Apple's stock price on the New York Nasdaq closed at $460.04, up 1.77% from the previous day. Apple's market capitalization was recorded at $1.967 trillion, marking an all-time high based on the closing price. If Apple's stock price exceeds $467.7, its market capitalization will surpass $2 trillion.
Globally, the only company to have reached a $2 trillion market capitalization was Saudi Arabia's state-owned oil company Aramco, which went public in mid-December last year and briefly exceeded $2 trillion during trading. However, due to the impact of falling oil prices in the first half of this year, Aramco's market capitalization dropped to $1.787 trillion on this day. Bloomberg reported, "Apple's rally has surpassed Aramco, making it the most valuable company in the world."
The market expects Apple's market capitalization to exceed $2 trillion soon. Apple's stock price has more than doubled since its low point at the end of March. In particular, on the 1st, it surged more than 10% in a single day due to strong earnings and the announcement of a stock split plan.
What drove Apple's stock price up on this day was news of a new subscription service in preparation. Bloomberg reported that Apple will launch a new service called "Apple One." This service will bundle subscription services such as the music streaming service Apple Music, Apple TV+, news, and games into one package sold at a discounted price. It is also known that Apple is considering launching a subscription-based online fitness class. Apple One is expected to be launched as early as October alongside the release of the iPhone 12.
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