Apple Market Cap Surpasses $2 Trillion; Pandemic Era Sees Unprecedented Tech Wealth Concentration

LONDON, UK – Despite a global economy plunged into deep recession by the pandemic, tech stocks surged. This month, Apple's market capitalization historically surpassed the $2 trillion mark on August 19, becoming the first US company to reach this milestone, just two years after hitting $1 trillion. This event ironically highlighted the "K-shaped recovery" of the 2020 global economy – while the real economy struggled, digital giants accumulated unprecedented wealth.

Despite supply chain disruptions and retail closures due to the pandemic, Apple demonstrated astonishing resilience with strong earnings, growth in services, and increased sales of products like iPhones and Macs driven by remote work demand, earning investor trust. Coupled with the Federal Reserve's loose monetary policy and market enthusiasm for tech stocks, Apple's share price soared.

A macroeconomist commented, "Apple's crossing of the $2 trillion market cap reminds us that 2020 is a year of polarization. On one hand, countless small businesses collapsed; on the other, a few companies controlling digital infrastructure accumulated wealth at an unprecedented pace."

However, skyrocketing valuations bring increased scrutiny. August's congressional antitrust hearing warned Apple and similar companies to be accountable for their market behavior and competitive strategies. Calls for these companies to assume greater responsibility and avoid abusing market dominance are growing louder. Apple's $2 trillion market cap is one of the most symbolic events on the 2020 global economic map, prompting deep thought about the fairness and sustainability of future economic growth.