AAPL is a $2 trillion company
Apple finally did and is the first company to reach $2 trillion market cap.
They are not strangers to the trillion dollar title as they were also the first company to reach the $1 trillion market cap back in August 2018.
They were also the first to pass $1.5 trillion in June this year.
AAPL has incline of 57.61% for the year so far.
Volume yesterday was nothing excessive but was enough to push the stock where no other stock has been before, although it closed the session just below the trillion dollar title.
The momentum began on May 5 2020 and has continued throughout the uptrend with low volatility and lack of drama along the way.
AMZN, MSFT GOOGL and FB are the likely stocks chasing the $2 trillion market cap as all four of them are currently over $1 trillion.
As it stands, AAPL is bigger than GOOGL and FB combined.
Based on the new iPhone due out and the number of prior iPhones circulating, it looks like the pending upgrade cycle might be the biggest on 4 years, especially if the 5G version is released, which looks to be the case.
If you’re looking for an entry in AAPL, a pullback will be necessary. So be patient and wait for the market pullback or even a stock pullback.
Below is AAPL monthly charts comparison against the S&P 500. The outperformance started in 1998.
Let’s go trade!