The actions of Apple on the Nasdaq stock exchange, in New York, rose on Wednesday (19) and took the company to a new milestone: its market value reached $ 2 trillion. It continues with strong revenue from iPhones, iPads and Macs during the pandemic, but the App Store’s business model has been questioned by antitrust entities.
Apple won the first trillion in 2018: it was the first U.S. company to do so, before Amazon, Microsoft and Alphabet (owner of Google). The value has fluctuated since then, as the sale of iPhones slowed, but returned to that level and reached US $ 1.5 trillion in June this year.
Apple is now the first American company to be worth $ 2 trillion. If we take into account companies from around the world, it is the second: Saudi Arabian oil company Saudi Arabian Oil Company reached that number for the first time in December 2019.
Apple’s shares have appreciated in recent months thanks to good financial performance: the company posted revenue of $ 59.7 billion and net income of $ 11.25 billion in the second quarter, up 12% compared to the same last year. It had a strong increase in sales of Macs (+ 21.6%) and iPads (31%), with demand driven by distance learning and social isolation.
It is worth noting that, since the beginning of August, Apple has a market value higher than Brazil’s Gross Domestic Product (GDP) in 2019. The appreciation of the shares also placed CEO Tim Cook on the list of billionaires at Bloomberg.
Apple’s App Store Faces Challenge
Apple is being questioned for its business model on the App Store. Developers say they are hurt by the 30% fee charged on app transactions: this additional amount ends up disadvantaging competing services from Apple Music and Apple Books, for example.
The most recent chapter in this story involves Epic Games: it sued Apple and Google for withdrawing the battle royale game Fortnite of its app stores, after the company implemented its own payment system. She went to court to continue to have access to development tools for iOS and Mac, but Apple says it will not make an exception.
With information: VentureBeat.