On Friday, Apple became reclaimed its position of being world largest publicly traded company. On Friday Apple’s stock gained 10.47 % to $425 at a valuation of $1.84 trillion. It triumphed Saudi Aramco for the position which was valued at $1.76 Trillion on Friday.
In a single day Apple added more than $172 billion in its market capitalization led by a strong quarter both in terms of revenue and profits, as newer products earned them higher margins.
Although, the shares went flat in March because of looming uncertainty because of the pandemic, the stock seems to be out of Covid-19 troubles.
Morgan Stanley analysts were quite impressed by Apple’s growth and said “Despite COVID-19 headwinds, Apple grew revenue in every segment and geography, beating consensus revenue by 14% as ecosystem engagement rises.”
Apple’s stock grew 44% in 2020 and even the global pandemic couldn’t’ hurt Apple at a time mostly all the consumer electronics companies are struggling to keep their operations afloat.
The growth for Apple’s stock could just be the beginning as the world is slowly and steadily getting compatible to Covid-19 and started to open up.