Apple becomes the world’s first trillion-dollar company

02 August, 2018, 21:44 | Author: Gerard Cortez
  • Apple Buybacks May Total $21 Billion in Q2

Apple became the first private company to surpass $1 trillion in stock market value Thursday following its latest surge after reporting strong quarterly earnings.

Apple shares topped $207 on Thursday, pushing the company to a market capitalization of $1 trillion just before noon, before falling back to around $206.

The Silicon Valley firm's stock has surged more than 50,000% since its 1980 initial public offering, dwarfing the S&P 500's approximately 2,000% increase during the same nearly four decades.

Apple has become the first publicly traded company to be worth $1 trillion.

Started in the garage of co-founder Steve Jobs in 1976, Apple has pushed its revenue beyond the economic outputs of Portugal, New Zealand and other countries.

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Jobs eventually introduced popular products such as the iPod and iPhone that subsequently drove Apple's rise.

However, not too behind as another United States company Amazon is also on the verge of hitting the $1 trillion as market insiders are confident of its positive Q3 results.

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

Cook's hiring may have been one of the best things Jobs did for Apple.

The dream of being the world's first trillion-dollar company is something the tech giants have always been chasing and, while Apple was the first to cross the finish line, the rest aren't all that far behind: Microsoft now sits at a $824 billion valuation, while Alphabet and Amazon loom just ahead at $854 billion and $878 billion, respectively - each a gilded stone's throw away from a trillion. Amazon is valued at $870 billion, Google-parent Alphabet has a market valuation of $850 million and Microsoft's market cap is at just under $815 billion.

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