Markets

Apple Becomes First Company to Reach $1 Trillion Worth

Apple Becomes First Company to Reach $1 Trillion Worth

NEW YORK, USA - Apple - the culture-changing company behind the iPod, iPhone and iPad - hit another milestone on Thursday, August 2, US time, becoming the first private-sector company to surpass $1 trillion in market value.

The iPhone-maker's shares struck an all-time high of $207.05 during trading in NY, pushing its market capitalisation past the landmark trillion-dollar level to $1.02 trillion.

The tech company's stock jumped 2.8% to as high as $207.05, bringing its gain to about 9% since Tuesday when it reported June-quarter results above expectations and said it bought back $20 billion of its own shares. According to most estimates, that put Apple's market cap at over $1 trillion, making it the first US-listed company to break into the four-comma club.

That price translates to a $1 trillion market cap, based on the current estimated number of outstanding shares. -China trade spat, which intensified on Wednesday after U.S. President Donald Trump raised pressure on China by proposing a higher 25-per-cent tariff on $200 billion worth of Chinese imports.

Consider the plight of Exxon Mobil, which was the most valuable USA company five years ago. Oh and by the way, Apple is not the first company to hit the trillion dollar mark globally.

The California-based company born of a friendship between Steve Wozniak and the late Steve Jobs is credited with giving rise to smartphone lifestyles and "apps" for almost everything.

No, McDonald's Isn't Launching a Cryptocurrency, Despite What It Appears
One of the Delligatti family's restaurants celebrates the iconic sandwich and its history by doubling as the Big Mac Museum . Other ideas from franchisees that hit the big time include the Filet-O-Fish, Egg McMuffin, Apple Pie, and the Shamrock Shake.

Apple has become the world's first public company to be worth $1 trillion.

For one thing, the marketing guru behind the success of the Macintosh computer wishes he hadn't turned down an offer from founder Steve Jobs to return to Apple.

In the two decades since, Apple has risen to become the most valuable company in the world by helping popularize yet another era in computing, the smart phone. That put Apple on a path to overtake Exxon Mobil in 2011 as the largest USA company by market value.

The $1 trillion figure made Apple worth more nearly every country in the world except for the 15 richest countries ones, based on data from the CIA World Factbook.

As are Google and Microsoft, who are both valued at about $800 billion.

Apple has fought myriad patent battles with rivals, particularly South Korean consumer electronics colossus Samsung, arguing that its product design is as much its intellectual property as the hardware and software.


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