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Apple becomes first US company to hit $1.5 trillion market cap

Jun 11, 2020 12:11 IST

Apple has become the first US company that reached a $1.5 trillion market cap. According to the investors and analysts, growing services and wearables business are the reasons for the surge in stock. At the current price of $352 per share and 4.3 billion shares outstanding, Apple's market cap hit around $1.53 trillion on Wednesday. Apple may become the first company ever to touch the $2-trillion valuation mark in the next four years, some top analysts believe. Apple was the first US company to cross the $1-trillion mark in 2018.