Apple is the first U.S. company to boast a market value of $2 trillion, just two years after it became the first to reach $1 trillion.
Apple shares have gained nearly 60 percent this year as the company overcame the shutdown of factories in China that produce the iPhone and the closure of its retail sales amid the coronavirus pandemic.
The company's hugely loyal customer base trusts its products so much that they continued to buy iPhones and other devices online while stuck at home. Apple recently reported blowout earnings for the April-June quarter,
An upcoming four-for-one stock split that will make Apple's shares more affordable to more investors also sparked a rally after it was announced three weeks ago.
Apple has been at the vanguard of a group of Big Tech companies that are increasingly taking over people's lives — and the stock market. Just five companies — Apple, Microsoft, Amazon, Facebook, and Google's parent company — account for nearly 23 percent of the S&P 500's entire value.
Saudi Aramco reached a market value of $2 trillion shortly after becoming a public company in December 2019. The Saudi energy producer's shares have fallen since amid a drop in oil prices and its market value is now about $1.82 trillion.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
