AAPL Closes At A New High Of $497.48, Approaching The $500 Mark

Apple stock closed at a new high today, at $497.48, jumped more than 5%, approaching the $500 mark. Currently, AAPL is worth over $2.13 trillion, only three days after it hit the $2 trillion market valuation milestone.

On August 2, 2018, Apple's market value reached $1 trillion for the first time. On July 31, 2020, Apple surpassed Saudi Aramco to become the world's most valuable listed company.

Now, Apple’s stock price is quickly approaching the $500 mark, and since it bottomed out at $224 at the end of March, the stock price has more than doubled. Despite the impact of the COVID-19 pandemic, as more and more people work, study, and connect with others from home, boosted by strong Mac and iPad sales, Apple’s June quarter revenue hit a record of $59.7 billion.

The company recently announced that it will conduct a four-to-one stock split for shareholders of record on August 24, and start trading after the split adjustment on August 31. This move will not directly affect the company's valuation.

Apple is one of several companies whose stock prices have risen sharply since March, keeping pace with other big companies such as Tesla, Amazon, Microsoft, and Google.

Image Via Time Magazine

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