August 20, 2020

CNBC: Apple’s $2 trillion value is proof that Tim Cook’s services plan worked

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https://www.cnbc.com/2020/08/19/apples-2-trillion-value-proof-that-tim-cooks-services-plan-worked.html

Apple's $2 trillion value is proof that Tim Cook's services plan worked

2020-08-19 00:00:00, Kif Leswing, CNBC

Content Categorization
/Computers & Electronics
/Business & Industrial
/News/Business News/Company News

Word Count:
1006

Words/Sentence:
23

Reading Time:
6.71 min

Reading Quality:
Intermediate

Readability:
11th or 12th

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But Apple's rise to the ceremonial $2 trillion mark, doubling the company's value in slightly more than two years, doesn't happen without investors undertaking a major reappraisal of the company's business model.

$2 trillion when it feels like it was just passing $1 trillion is just how well they've done vertically integrating through their technology stack, starting with hardware, and then now moving into software," Ark Invest's Nick Grous said.

While the stock crossed the $2 trillion milestone on Wednesday, it closed at $462.83 per share, giving Apple a $1.98 trillion valuation.

via ReutersApple's historic burst through a $2 trillion valuation is largely symbolic, but it underscores CEO Tim Cook's success at changing the iPhone maker's story.

Apple CEO Tim Cook delivers the keynote address during the 2020 Apple Worldwide Developers Conference at Steve Jobs Theater in Cupertino, California, June 22, 2020.

Keywords
Investment strategy, business news, Mobile, Technology, Amazon.com Inc, Apple Inc, Netflix Inc, Breaking News: Technology, Microsoft Corp, Business, Walt Disney Co, Markets, iPhone

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