Apple has become the first American company in history to top the $2 Trillion Market cap on Wednesday August 19th 2020, as the rest of the economy struggles with Covid.
Apple even posted record results last quarter, growing 11% year on year with the iPhone SE launch, services and the increase in work from home driving sales for the company.
But what does all this mean, and will the company continue to grow its Market cap past $2Trillion?
There’s a good chance that at the end of this quarter Apple’s results will be behind expectations as the iPhones are delayed until the beginning of the following quarter in October, which means the iPhone pre-orders from last year will have nothing to go up against in September.
However the reported September 10th event could bolster sales with Apple Watch, iPads and potentially the first Apple Silicon Macs being released, so depending on their success, Apple could still have a great quarter, safe in the knowledge that the following quarter will hold the full weight of the year’s iPhone sales.
But what do you think? Will Apple Silicon be enough to salvage the results?