Published: Thu, August 02, 2018
Markets | By Otis Pena

Apple Becomes World's 1st Private-Sector Company Worth $1 Trillion

Apple Becomes World's 1st Private-Sector Company Worth $1 Trillion

On Thursday, Apple's stocks app for iOS, which pulls its financial data from Yahoo Finance, reported the company stock had passed $1 trillion, but that was based on the stock price being about $203 per share.

Apple Inc. became the first $1 trillion publicly listed US company on Thursday, crowning a decade-long rise fuelled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.

The company reached the record market cap when Apple's stock price briefly hit $207.05 in midday trading, before shares once again retreated. The rally continued on Thursday, propelling shares to the magic number of $207.05 apiece.

In the almost more than four decades since Steve Jobs founded the company in a California garage, Apple has become almost synonymous with personal computing and mobile devices.

Donald Trump says he had ‘very nasty’ relationship with special counsel
The president has claimed he didn't know about the meeting until July 2017 when it was revealed in media reports. Giuliani made this same argument Monday during a CNN interview . "He didn't pay them for hacking".


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

The company's stock was at $205.98, up 2.2 percent near 1555 GMT. "A clean beat on the path to $1 trillion". Apple is the first United States company to reach that lofty level.

Other tech giants have been approaching $1 trillion in market cap, but still lag behind Apple. Apple announced $100 billion in stock buybacks on May 1, the largest repurchase ever by a US public company. A company's market value is calculated by multiplying its current share price by the total number of shares investors hold.

Like this: