Apple becomes first US company to hit $2T market cap

By Michael Hernandez

WASHINGTON (AA) - Apple became the first publicly traded US company to hit a $2 trillion market capitalization Wednesday after its share price exceeded $467.97.

The milestone comes two years after the tech company hit $1 trillion. Apple surpassed Saudi Arabia's Aramco on July 31 to become the most valuable publicly-traded company.

Apple's stock has bounced back strongly following a dip in March caused by the coronavirus pandemic. It now has more than doubled its March low on strong demand even as the global economy remains in tatters.

Wall Street has been undeterred, however, posting new highs in recent weeks, particularly among big tech companies.

Apple's stock price exceeded $468 in mid-day trading.