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Data: FactSet; Chart: Naema Ahmed/Axios

Apple's market cap is screeching toward $2 trillion, less than a year after rising above the $1 trillion mark again in September 2019.

What happened: The company first gained 13-figure status in early August 2018 but saw its valuation sink to a mere $709 billion following the market downturn of late 2018.

  • If Apple's market cap rises $112 billion before Sept. 11 it will have accomplished in under a year what took the company 42 years from its founding to do.

Yes, but: Perhaps more impressive than the company's valuation is its weight. Apple's weighting in the S&P 500 earlier this week rose to 6.5%, leapfrogging IBM's in 1985 to become the index's largest weighted company in the past 40 years, according to S&P Dow Jones Indices and Bloomberg.

Go deeper

Apple lobbied Congress on bill targeting Uighur slave labor in China

A banner hung by protesters in a Hong Kong mall. The protesters demonstrated against alleged workers' rights violations at the factories that produce Apple products, September 2011. Photo: Felix Wong/South China Morning Post via Getty Images

Apple paid an outside firm to lobby Congress on legislation targeting American companies working in areas in China that may use forced labor, The Information first reported. It remains unclear whether Apple lobbied against or for the bill.

Why it matters: Apple has faced scrutiny over the years regarding the human impact behind the manufacturing of its popular products.

Oct 27, 2020 - Economy & Business

SimilarWeb raises $120 million

SimilarWeb, an Israeli-based internet measurement company, has raised $120 million in its latest fundraising round, bringing its total funding to-date to $240 million.

Our thought bubble: The company was previously reportedly valued at $800 million after its last round in 2017, so presumably it's approaching a valuation that exceeds $1 billion.

Updated 15 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Top HHS spokesperson pitched coronavirus ad campaign as "helping the president" — Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases — Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  4. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.