Apple valuation hits $2 trillion amid digital health transformation: 4 details

Apple is the first company to reach a $2 trillion valuation, according to a Wall Street Journal report.

Four things to know:

1. Apple reached $2 trillion market value on Aug. 19 and shares rose around 1.4 percent. Since March 23, the company's stock price has more than doubled.

2. During the pandemic, customers are relying more on Apple technology and iPhones as they work from home. Comparatively, other industries such as travel are seeing big declines this year and investors are flocking to tech companies as a result.

3. Other tech giants aren't far behind Apple. Amazon and Microsoft have a $1.6 trillion valuation and Alphabet's valuation is around $1 trillion.

4. In recent years, Apple CEO Tim Cook has focused on digital health solutions. It dominates the wearable technology industry with the Apple Watch, according to Business Insider, and earlier this year partnered with Google to launch a COVID-19 contact tracing app.

Click here for a timeline of Apple's move into healthcare and here to learn more about where Apple may be headed next.

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