(BUSINESS INSIDER) – It's official: Apple is the first US-listed company to reach a $2 trillion market capitalization.
Shares of the technology giant rose 1.2% to an all-time high of $467.84 on Wednesday to reach the milestone.
The oil giant Saudi Aramco is the only other publicly listed company to have reached a $2 trillion market cap. It broke the threshold in December, one day after its record-setting initial public offering.
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Apple's market-value record comes as major US equity indexes are near all-time highs. They've rallied sharply from a multiyear low in March, fueled by a flood of Federal Reserve stimulus, expectations of a successful coronavirus vaccine, and hopes of a new economic relief package.
This isn't the first time Apple has broken a market-cap record. In August 2018, it became the first US company to reach a market value of $1 trillion. Since then, Amazon, Microsoft, and Google's parent, Alphabet, have also crossed the $1 trillion threshold.