Apple’s market cap has surged by $600 billion in the past 20 days. That’s nearly the equivalent of Tesla’s $394 billion and Netflix’s $218 billion market caps combined, Above Avalon analyst Neil Cybart points out on Twitter.
Apple last week became the first publicly traded US company in history to pass $2 trillion in market cap. Market capitalization refers to the total number of outstanding shares multiplied by the value of those shares.
In the past 20 trading days, Apple’s market capitalization has increased by $600 billion. That’s nearly equivalent to a Tesla ($394 billion) and Netflix ($218 billion) combined.
— Neil Cybart (@neilcybart) August 24, 2020
At time of writing, AAPL is trading at $501.98. That gives Apple a valuation of $2.14 trillion.
Cybart’s point about Tesla and Netflix is pretty astonishing. Here’s something just as crazy, though: It took Apple from its founding in 1976 until April 2012 for Apple to achieve a market cap of $600 billion. Apple had already released the Mac, iPod, iPad, iPhone, and iTunes by that point. Its legendary co-founder Steve Jobs had passed away the previous year, and it was in the Tim Cook era. The company just added that much to its market cap in three weeks.
It is, of course, a very different thing to build a tech giant from nothing to $600 billion, and to scale that $600 billion company into a $2 trillion giant. But factoids like this one — and the one pointed out by Neil Cybart — are a reminder of just how unthinkably massive Apple is these days.
No wonder that Warren Buffett’s investment firm is so bullish about all things Apple!