Apple renews its membership in the trillion dollar club
Apple regained its position as a $1 trillion company on Wednesday after announcing on Tuesday a wide range of new products and services at its headquarters in Cupertino, including the iPhone 11, reaching this level for the first time in 10 months.
The market’s reaction to the devices and details of the live streaming service (Apple TV) was initially weak, but the company’s shares continued to rise steadily on Wednesday, analysts praising the pricing strategy of the streaming service and the new iPhone.
Apple introduced a new range of iPhone devices and revealed pricing details for subscription services for upcoming games and video, and despite the absence of surprises in the latest apple ads, but the company’s pricing style was not expected and highlighted a change in strategy
Apple is trying to reduce the price of its service (Apple TV) compared to competitors such as Netflix, Walt Disney, and Hulu so that when it is launched on November 1st, the streaming service will have nine original programs.
Apple shares rose 41% this year, despite the headwinds of the U.S.-China trade war.
In July, U.S. President Donald Trump rejected a request from Apple CEO Tim Cook to protect the technology giant from tariffs, the president has asked the company to manufacture its products in the United States, but later said he would reconsider his position.
This is not the first time Apple’s market value has reached $1 trillion, the brand has been the first on August 2018, but it declined after it’s stock price fell between December and January after disappointing iPhone sales in China.
Apple is not the only technology company with a market value of $1 trillion, with Microsoft having a higher market value than Apple, with $1.04 trillion compared to $1.01 trillion for Apple, while Amazon’s market value is $880 billion, followed by Alphabet with $834 billion. A billion dollars.