Technology titan Apple is now the world’s most valuable company with a valuation of over 2 trillion US Dollars. The company makes the iPhone range of smart phones, Macbooks, Apple Watches and also owns the Dr Dre headset brand. As well as their technology hardware income, Apple’s income is boosted substantially by services income from payments made for apps, content sales and – in many parts of the world – payments thorough Apple Pay. This technology is not available in South Africa but is similar to Snapscan.
Apple made headlines in 2018 when the stock rose enough for the company to be valued at 1 trillion US Dollars. 2020 has been a rollercoaster year for Apple and other US stocks. Apple was worth only 1 trillion Dollars as recently as March this year, leading the company to double in value in only 5 months.
Apply is lead by Tim Cook (Once famously referred to as Tim ‘Apple’ by President Donald Trump) was paid 125 million US dollars in the last year.
The stock market initially dropped when the Covid-19 stuck in the US. Now despite the widespread disruption to the economy, the lockdowns across the country, and the unheard-off levels of unemployment in the US, the stock market has bounced back to some of the highest levels seen in years. One third of the US stock market comprised tech stocks and many have performed well in the Covid era as more business has turned to online or digital delivery.
Other tech companies are also doing well in the US with Amazon worth 1,6 trillion Dollars, Google’s owner Alphabet is worth 1 trillion and Facebook worth 747 billion US Dollars.
— CNN Business (@CNNBusiness) August 19, 2020