Apple is about to become the world's first trillion dollar company

Apple is about to become the world's first trillion dollar company

Apple Inc updated its latest share count on Wednesday, putting the magic stock price at $207.04 that would make the iPhone maker the first publicly listed USA company valued at $1 trillion.

The iPhone maker's market capitalisation reached the figure in afternoon trading in NY as its shares rose above $207.

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.

Other technology companies with high-flying, trendy stocks are expected to join Apple in the $1 trillion club before long.

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

Apple is not the first publicly traded company in the world to surpass the trillion dollar mark though. The company's Chief Executive Officer Tim Cook, in a call with investors, touted the company's growth in sectors such as smart home products, wearables and services such as the App Store and Apple Pay, National Public Radio reported. Recently, some of his older clients have bought Apple shares for their grandchildren.

Wall Street loved it. Apple climbed almost 9 percent since the earnings report. After launching the iPhone - arguably its most famous product - in 2007, Apple now churns out over 40 million of the devices every quarter, helping it rake in $254.63 billion in revenue previous year.

Apple's stock has risen over 30 per cent in the past year, fuelled by optimism about the iPhone X, launched a decade after the original.

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

Hot on Apple's heels is Amazon.com, the second-largest listed United States company by market value, at around US$880 billion, closely followed by Google-owner Alphabet and by Microsoft.

Related Articles

  • No mystery to Supreme Court nominee Kavanaugh's gun views

    No mystery to Supreme Court nominee Kavanaugh's gun views

    Paul tweeted , "After meeting Judge Kavanaugh and reviewing his record, I have made a decision to support his nomination". North Dakota's Heidi Heitkamp and Indiana's Joe Donnelly, like Manchin, are running for re-election this year.
    How to watch the July 2018

    How to watch the July 2018 "blood moon" online

    A partial eclipse will follow this, with a shadow of the Earth slowly retreating across the lunar surface until around 11.20pm. In a special treat, Mars is also at its closest approach to Earth this week since 2003, making it appear bigger and brighter .
    Arnaud Demare, last place in the Pyrenees, wins Tour de France stage

    Arnaud Demare, last place in the Pyrenees, wins Tour de France stage

    The police are duty bound to keep the roads clear for the riders and the officer who brought Froome down thought he was a fan. I hope in Paris I can win". (Cheating) is not my philosophy. "I want to thank you for this", Demare said.
  • Photos show NK building new ICBM near Pyongyang

    This intelligence has been backed up by satellite images that appear to show activity at a known uranium-enrichment facility. The U.S., he added , has "to know what they have before talking about caps and arms control".
    Vote count underway in Zimbabwe

    Vote count underway in Zimbabwe

    His announcement set off celebrations among party supporters outside the building, but no official results have yet been declared. With 5.6 million registered voters, full results of the presidential, parliamentary and local elections are due by August 4.
    Ryan doesn't back effort to impeach Rosenstein

    Ryan doesn't back effort to impeach Rosenstein

    David Cicilline, D-R.I., a member of the Judiciary Committee, told ABC News last month. Gowdy said after the meeting that he was pleased with the department's efforts.
  • Stop copying our flag, NZ acting prime minister tells Australia

    Stop copying our flag, NZ acting prime minister tells Australia

    New Zealand voted to stick with the current version - but only after spending $17.6 million on the referendum. Australia's flag was adopted 52 years later on April 14, 1954.
    Chicago Cubs acquire lefty Cole Hamels in trade with Texas Rangers

    Chicago Cubs acquire lefty Cole Hamels in trade with Texas Rangers

    Hamels is also 1-7 with a 6.41 ERA and 1.51 WHIP at home this season while pitching in a hitter's paradise in Arlington. The Cubs, however, don't appear to be discussing the possibility of taking on all of that almost $14MM commitment.
    Meghan Markle's Half-Sister Samantha 'Confirms' 'Celebrity Big Brother' Stint

    Meghan Markle's Half-Sister Samantha 'Confirms' 'Celebrity Big Brother' Stint

    She doesn't know how to communicate with him, because he's afraid that he's using their communication for their own purposes. However, for all the praise she has been receiving, Meghan has also attracted a fair amount of scorn from royal commenters.
  • Economic Slowdown Could Be Ahead for the U.S., Not Robust Growth

    Economic Slowdown Could Be Ahead for the U.S., Not Robust Growth

    After next year, many economists expect growth rates to subside again, as the boost from tax cuts and federal spending dissipates. On Friday , the Commerce Department reported that the US economy grew at an annual rate of 4.1 percent between April and June.
    CBS investigates sexual misconduct claims following report on CEO Les Moonves

    CBS investigates sexual misconduct claims following report on CEO Les Moonves

    Multiple women have accused Moonves of engaging in harassment, intimidation and other forms of misconduct throughout his career. The story also describes a culture at CBS that's permissive of sexual misconduct , particularly in the CBS News division.
    Roseanne Barr Apologizes to Valerie Jarrett, Then Insults Her Hair

    Roseanne Barr Apologizes to Valerie Jarrett, Then Insults Her Hair

    She also said that there needs to be healing between the African-American and Jewish communities. At one point, Hannity gives her the chance to speak directly to Jarrett.