Apple is first public company worth $1 trillion

02 August, 2018, 20:40 | Author: Dave Hampton
  • Why Apple is inches away from $1 trillion valuation

Apple officially reached a market capitalization of $1 trillion as it stock surged again Thursday, making it the first USA company to hit the massive valuation.

Today, Apple shares were trading at $206.81, propelling the company's market valuation past the $1 trillion milestone. It now accounts for 4 per cent of the S&P 500.

We'll be monitoring Apple's stock price closely to see if it's able to really become the first trillion-dollar company.

During that time, Apple evolved from selling Mac personal computers to becoming an architect of the mobile revolution with a cult-like following.

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Although many have doubted Apple's staying power over the years, unlike many hardware makers the company has ridden the elegance and functionality of its devices.

Mr Jobs died in 2011 and was succeeded as chief executive by Tim Cook. "A clean beat on the path to $1 trillion". Recently, some of his older clients have bought Apple shares for their grandchildren.

Shares surged after Apple reported earnings that topped forecasts and a healthy outlook on Wednesday.

Apple first listed in 1980 and its stock has risen more than 50,000% since then.

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It began an ascent on Tuesday after reporting solid results in its latest quarter.

UPDATE: Aug. 2, 2018, 11:52 a.m. EDT Apple is officially the first company to hit $1 trillion market cap, according to CNBC. Amazon's market cap stands at around $877 million, while Alphabet's is $851 million and Microsoft is worth about $822 million.

Even with its US$1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive.

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