Apple becomes first US company to hit $2T valuation mark
Apple makes history as the first U.S. company to reach a $2 trillion market cap.
Apple Inc. shares slipped Tuesday after the company’s virtual event unveiled updates to its Apple Watch and iPad products and rolled out its long-awaited services bundle.
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Shares were trading up 2.38% ahead of the event’s start. Post-announcement, shares were fighting to hold the $116.94 needed for the company to maintain a $2 trillion market capitalization.
CEO Tim Cook, who presided over the event, touted a suite of updates to products, excluding the iPhone.
The new Apple Watch 6, which will allow users to monitor their blood oxygen levels, starts at $399. The company also announced the Apple Watch SE, which will be priced at $279. Neither of the new models come with a charger, which will need to be purchased separately, and both are available starting Sept. 17.
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Apple also announced an update to its entry-level iPad 8, giving users a faster chip and the option for a carrying case.
Apple One Services:
The company said its Apple One services bundle, which includes Apple Music, Apple TV+, Apple Arcade, and iCloud storage will cost $14.95 per month. The family option is priced at $19.5 per month.
A Premier package that includes News+ and Fitness+ features will cost $29.95 per month.
Apple shares, which split 4-for-1 on Aug. 31, were up 57% this year through Monday while the S&P 500 was up 4.73%.
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