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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.

Go deeper

Ina Fried, author of Login
Nov 18, 2020 - Technology

Apple to lower commissions for small businesses on App Store

Screenshot via Apple.com

Apple announced a new program Wednesday under which it will take a smaller 15% cut from App Store sales for businesses earning less than $1 million selling their apps, rather than the standard 30% cut.

Why it matters: Apple is under fire from some critics over its rigid App Store policies that require developers to use Apple payment systems for both app sales and in-app payments in exchange for a cut of sales.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci says he accepted Biden's offer to be chief medical adviser "on the spot" — The recovery needs rocket fuel.
  2. Economy: U.S. economy adds 245,000 jobs in November as recovery slows — America's hidden depression: K-shaped recovery threatens Biden administration.
  3. Education: Devos extends federal student loan relief to Jan. 31
  4. States: New Mexico to allow hospitals to ration coronavirus medical care
  5. Vaccine: What vaccine trials still need to do.
  6. World: UN warns "2021 is literally going to be catastrophic"
  7. 🎧 Podcast: Former FDA chief Rob Califf on the vaccine approval process.
2 hours ago - Health

A safe, sane survival guide

Photo: Luka Dakskobler/SOPA Images/LightRocket via Getty Images

We all know, it’s getting worse.

Reality check: Here are a few things every one of us can do to stay safe and sane in coming months: