Stock Futures Climb Amid Reports Trump Plans To Fast-track Vaccine

When will Apple hit three trillion?

It took Apple more than 35 years to go from its initial public offering to becoming the world’s first trillion dollar publicly listed company in just two years. After the company’s IPO, it took the firm close to two years to hit $1.5trn, and just two months to get past the $2trn mark. Currently, the market cap of Apple is equivalent to that of the entire FTSE 100, and it has a 7.2% weighting in the S&P 500 index. The transition to 5G technology is one major factor that could propel the company past the $3trn mark, as there is the potential for hundreds of millions of iPhones worldwide to be upgraded by consumers. CEO Tim Cook has also placed a major emphasis in recent years on transitioning Apple away from being a pure hardware business, growing service segments such as the app store, Apple Music, the Apple credit card, warranties and more. “The reason we’re talking about … $2trn when it feels like it was just passing $1trn is just how well they’ve done vertically, integrating through their technology stack, starting with hardware, and then now moving into software,” Ark Invest analyst Nick Grous told CNBC.

Crypto corner: Hong Kong approves first crypto exchange license

Hong Kong’s markets regulator has agreed in principle to issue a license to a cryptoasset firm for the first time. OSL Digital Securities, part of Fidelity-backed BC Group, said on Friday it had received the approval in principle, according to a Reuters report.

OSL first said last November it had become the first firm to apply for a digital asset license from Hong Kong’s Securities and Futures Commission (SFC) under new rules allowing crypto exchanges to opt into regulation. No other company has so far said it has received such approval.

The approval comes amid a pause for leading cryptoasset Bitcoin (BITCOMP). Having set new highs for the year a week ago, Bitcoin has retreated below the $12,000 mark and is now trading at $11,652 as investors look for the next event to spark more buying.

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