On August 20, 2020, Apple, the American technology company, has become the first US company to reach US$ 2 trillion in market value. The latest trend shows the unexpected growth of technology companies in the Corona period. Apple, the iPhone maker attained this distinction in morning trading before easing and concluding the session slightly higher. In March 2018 also, the company had become the first giant to hit US$ 1 trillion in market value. Apple is followed by other technology companies, like Amazon, Microsoft, and Google parent Alphabet, all of which now have more than US$ 1 trillion in market value.
Apple outpaced its rivals by delivering strong sales of gadgetry like wearables and tablets, along with new apps and services. Apple has been wildly successful in building out its platforms, mitigating the fact that iPhone sales had peaked, by building products that surround it and services that enhance it.
Leadership from CEO Tim Cook, who took over just ahead of Steve Jobs’ death in 2011, is regarded as one of the main reasons for this phenomenal rise in Apple’s fortunes. He did not invent anything but has demonstrated strong leadership traits.
Greater reliance on technology in the Corona period is another factor as employees shifted to working at home amid the pandemic and social distancing protocols. Apple exploited the adversity and turned it into an opportunity.