Apple Returns To $-Trillion Club
Apple has climbed back into the US$1 trillion market cap, following this week’s announcement of a grab-bag of new products, including the iPhone 11.
Apple’s share price was up more than two percent at the close of trading on Wednesday, ending the day at $223.59.
The shares first hit the trillion-dollar mark about this time last year, but fell under the symbolic benchmark after the stock price dropped in December, following disappointing iPhone sales in China.
Apple has also bought back millions of its own shares, raising the stock price threshold, but Microsoft has a larger market cap than Apple at $1.04 trillion. Apple’s market cap as of yesterday was $1.01 trillion.