Aug 19, 2020 - Technology

Apple becomes first U.S. company worth $2 trillion

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Photo: Budrul Chukrut/SOPA Images/LightRocket via Getty Images

Apple on Wednesday became the first U.S. company to reach a $2 trillion valuation, AP reports.

The state of play: It comes only two years after it became the first to reach $1 trillion. Apple shares are up 60% this year despite factory shutdowns in China and slowed retail sales during the coronavirus pandemic, but its customer base remains fiercely loyal, allowing the company to drive major earnings.

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