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Apple nears US$2 tril in market value; share of S&P 500 hits milestone

Bloomberg
Bloomberg8/5/2020 08:51 AM GMT+08  • 3 min read
Apple nears US$2 tril in market value; share of S&P 500 hits milestone
The world gawked two years ago when Apple Inc.’s market value crossed US$1 trillion ($1.37 trillion) for the first time. But the feat was less noteworthy when viewed from another perspective: relative size.
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The world gawked two years ago when Apple Inc.’s market value crossed US$1 trillion ($1.37 trillion) for the first time. But the feat was less noteworthy when viewed from another perspective: relative size.

That’s because, even with a 13-digit price tag, Apple’s place among its peers in August 2018 wasn’t unprecedented -- it had gotten bigger, but so had the whole market. As a result, its weighting in the S&P 500 remained comparable to past titans in their heyday, such as Exxon Mobil Corp. and IBM Corp.

Almost US$900 billion worth of market cap later, that’s changing: Apple’s stock market heft has entered uncharted waters. Thanks to more than doubling since last August, its weighting in the S&P 500 just leapfrogged IBM’s in 1985 to become the biggest in 40 years.

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