The tech major Apple Inc (AAPL: NASDAQ) briefly crossed the $2 trillion market cap on the stock market, becoming the first company in the US to do so. Apple Inc is only the second company to cross the market globally, after Saudi Aramco, the Saudi Arabian government backed Oil Company. Saudi Arabian had crossed the mark in last December, but subsequently confronted slip to reach its

current market cap of $1.8.

Thanks to strong earnings results and the speculations around its 5G iPhone, Apple’s shares in midday trading surged as much as 1.4 percent to reach $468.7, and surpass the magical milestone of $2 trillion, which is more than the GDP of a bunch of countries including Italy, Brazil, Canada and Russia. Although, the iPhone marker closed down trading just below the historic market - $1.979 trillion.

Amazon, which is valued at around $1.7trillion, stands below Apple as the second most valuable publically traded US Company. It is followed by Microsoft, which stands at $1.6 trillion, and Google-owned Alphabet, which is at just over $1tn.

The company crosses the milestone just after two years of becoming the world's first trillion-dollar company in 2018 – 42 years after it was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne. Apple went public in 1980 at a price of $22.00 per share.

The introduction of 5G is expected to further push the numbers for the company. Powered by Qualcomm, iPhone expected to launch 5G phones sooner, but then again, the pandemic is expected to delay the production.