Gee, that didn’t last long. Apple briefly became a $US2 trillion company on Wall Street on Wednesday.
The value passed the unbelievable level when the shares reached $US467.77 in mid-morning trading.
The shares traded as high as $US468.65 before selling off.
But that didn’t hold and they eased to end the day at $US462.83, up slightly and still worth $US1.98 trillion.
Apple first closed above a $US1-trillion valuation on August 2, 2018, 38 years after the company went public.
After falling back below the $US1 trillion mark for one day on March 23 this year, amid concerns that the COVID-19 crisis would weaken its business, Apple shares rebounded and it more than doubled its market value in less than five months.
Even if Apple shares remain at current levels, the $US2 trillion level will be reached once the four for one share split happens next week.
Demand for the cheaper shares will push the valuation higher.
