Apple has doubled its valuation from $US1 trillion to $US2 trillion ($2.7 trillion) in a little over two years.
It makes it the first US company to reach the $US2 trillion value mark.
While the COVID-19 outbreak has decimated the global economy, Apple has managed to withstand the hardship, with shares gaining nearly 60 per cent so far this year.
This is despite the fact the company was forced to shut down some of its factories in China at the beginning of the outbreak and close many of its retail stores around the world.
The company recently reported its earnings from April through to June, revealing revenue of $US59.7 billion and profit of $US11.25 billion.
CEO Tim Cook announced the record results.
“Apple’s record June quarter was driven by double-digit growth in both Products and Services and growth in each of our geographic segments. In uncertain times, this performance is a testament to the important role our products play in our customers’ lives and to Apple’s relentless innovation,” he said.
With share prices continuing to soar, Apple is set to make it more affordable to buy-in to the company, offering a new four-for-one stock split.
While Apple continues to enjoy success with its range of iPhones and computers, there is a growing push for the company to move into services to generate more recurring revenue.
It was last week leaked that Apple would start bundling its various subscriptions (Apple Music, Apple TV+, Apple News+) to win more customers.
