Apple reaches $2trn: Has the tech rally gone too far, too fast?

Reaction to latest milestone

Yesterday's news that Apple's market cap has reached the $2trn mark has confirmed the ongoing "primacy" of the high-growth tech rally, according to industry commentators, although the future outlook for the sector is "less clear" due to regulatory concerns, US-China trade tensions and soaring valuations.

On Wednesday (19 August), the iPhone maker's price per share reached $468 during early Wall Street trading, marking a 60% increase in the value of its shares year to date. It was almost exactly two years ago that Apple's market cap surpassed $1trn. At time of writing, Apple accounts for 4.9% of the S&P 500 index, while the FAANG companies (Facebook, Apple, Amazon, Netflix and Google) comprise about 18% of the index overall. 'Significant tailwinds' can sustain FAANG outperformance despite growing regulation risk Chris Beauchamp, chief market analyst at IG, said Apple's push to a $2t...