Apple's Next Trillion Won't Come So Easily
The iPhone maker’s ascent to a record-breaking $2 trillion in market value is impressive. It faces a more uncertain road ahead.
Apple’s ascent is impressive, but its lofty valuation leaves little room for disappointment.
Photographer: Michael Nagle/Bloomberg
Apple Inc. has done it again. On Wednesday, just two years after becoming the first U.S. company to boast a trillion-dollar market valuation, it became the first to top $2 trillion. Getting to the next trillion may not be such a breeze.
With its shares up roughly 60% this year, Apple is among the Big Tech winners that have benefited from a “safety premium.” Investors have piled in to the iPhone maker’s shares as well as those of other technology darlings — including Amazon.com Inc., Facebook Inc. and Google parent Alphabet Inc. — betting their business models, robust balance sheets and large cash balances would make them more resilient amid the economic fallout from the global Covid-19 pandemic.