17 May Apple becomes first company worth $800bn
Apple has become the first company in history to top the $800bn mark in market capitalisation, slightly more than two years after it crossed the $700bn threshold.
The iPhone maker’s shares have gained 33% this year and almost 50% since the US election in November. Shares closed at $153.99 on Tuesday.
The company represents about 4% of the $21.7 trillion that makes up the entire S&P 500 index, which itself hity an all-time intra-day high on Tuesday of 2,403.87.
“Considering that it has a limited number of products, it has really dominated that market in a way that few companies have, and it’s been able to retain margins despite lots of competitors.”