Published: Fri, August 03, 2018
Markets | By Otis Pena

Apple Becomes World’s First Trillion-Dollar Company

Apple Becomes World’s First Trillion-Dollar Company

Shares of the world's most valuable public company briefly climbed above $207.04, making it worth $1 trillion overall.

Some experts estimate the Saudi oil company could reach a total stock market value two times bigger than Apple's - at $2 trillion dollars. "Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline". The stock has been surging this week as anticipation mounts for the next generation of iPhone, expected to be released in September.

The company beat Wall Street expectations on Wednesday with $53.3 billion in third-quarter revenue, up 17 percent from the same quarter a year ago.

Apple first crossed the threshold in Thursday trading following a strong third-quarter report that showed earnings beat expectations and also showed increased revenue from the technology giant's services and software businesses.

For comparison, the same $10,000 invested in an Standard & Poor's 500-stock index fund would now be worth $2 million.

We'll be monitoring Apple's stock price closely to see if it's able to really become the first trillion-dollar company. He has pushed suppliers to improve labor practices and battled with USA authorities over user-privacy tools like encryption.

Apple has been credited with giving rise to lifestyles centered around mobile apps for seemingly everything from games and messaging to ordering food or summoning auto rides. "Because even though today we're talking about the impact of trade or currency war, an issue with China, Apple, who makes most of their products in China, is hitting this".

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Investors most likely won't care as long as Apple keeps growing and as long as it continues to churn out eye-popping earnings on an absolute basis. This made it hard to determine the company's actual value.

Jobs' vision, showmanship and sense of style propelled Apple's comeback.

But the recovery might not have happened if Jobs hadn't evolved into a more mature leader after his exit from the company in 1985.

GBH Insights analyst Dan Ives discussed the milestone with CNBC saying: "I think it just speaks to just how powerful the Apple ecosystem has become over the last few decades".

The Nasdaq, Dow and benchmark S&P indexes had opened lower, but began to turn positive as the advance in Apple shares helped take the focus away from the trade dispute.

Jobs often presented almost the entirety of Apple's launch events, while Cook typically emcees, but hands product announcements to lieutenants like marketing head Phil Schiller, software chief Craig Federighi, and services lead Eddy Cue.

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