Apple is the first US company to boast a market value of $2 Tn, just two years after it became the first to reach $1 Tn. Apple shares have gained nearly 60% this year as the company overcame the shutdown of factories in China that produce the iPhone and the closure of its retail sales amidst the coronavirus pandemic.
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 Alphabet — account for nearly 23% of the S&P 500's entire value.