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Apple has hit $2 trillion in market value, the first publicly traded U.S. company to do so.

The iPhone maker first crossed the $1 trillion milestone 

This week, Apple and a handful of other tech giants propelled the S&P 500 index to 

. Apple's stock is up nearly 60 percent this year.  

Much of the increase has come since late March, showing just how much the coronavirus pandemic has boosted the fortunes of big tech companies, as people rely on technology for work, school and entertainment.

Even though Apple had to shut down stores and weather supply chain disruptions during the pandemic, its sales have gone through the roof. Lots of people are buying iPhones, iPads and Mac computers and paying for services like streaming music and TV. 

Apple's worth has eclipsed that of other big tech firms. Amazon's market cap is about $1.7 trillion, Microsoft $1.6 trillion and Google parent Alphabet $1 trillion. They've left other corporate giants in the dust. Walmart is valued at $381 billion, JPMorgan Chase $300 billion and Exxon Mobil $179 billion. 

Business and Economic News

Avie Schneider

Author

Shannon Bond

Apple first crossed the $1 trillion mark just two years ago. The iPhone maker and a handful of other tech giants propelled the S&P 500 index to a new record this week.

Apple is worth $2 trillion — 1st American company to hit milestone

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