Business News

Apple value hits new high of over $2tn, more than combined market value of entire FTSE100 

2nd September 2020

The technology boom during COVID has boosted the behemoth’s value to a new record of $2.268tn

Technology giant Apple hit a new high yesterday morning, when its value reached a new record of $2.268tn on the US stock exchange, with its share price rising 75 per cent this year alone, and with it becoming the first US company in history to reach a $2tn market value.

The achievement sees the firm overtake the combined market value of the FTSE100 index, which is valued at £1.5tn and which, on Tuesday was down by 1.7 per cent. 

Apple has benefitted from the digital shift seen during the COVID-19 pandemic, as consumers moved to online shopping and entertainment options. 

Apple was founded in 1976 by Steve Jobs and Steve Wozniak and became the first US company to be valued at $1tn by Wall Street in 2018. But, it had hit hard times in the ‘90s, as Jobs stayed away for some time, returning in full force and being the driver spearheading Apple’s conquest of the digital sphere. 

Apple is set to launch iPhone 12 this month.

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Apple value hits new high of over $2tn, more than combined market value of entire FTSE100