That’s trillion with a T-Apple hits market value of $1 trillion


A day after posting strong results for the third quarter of fiscal 2018, Apple has become the world's first publicly traded company with a market capitalization of over $1 trillion.

Earlier today, Apple's stock price briefly hit the magic number, which in this case was $207.05 per share.

An intensifying trade dispute between the United States and China weighed on global stocks and bond yields on Thursday, but a rise in Apple shares took its valuation above a record $1 trillion and helped major USA indexes close in positive territory.

Apple shares rose 2.7% to an all-time high of $207.05 at around midday.

How do you like them apples? On Thursday, it was worth about $875 billion while Google's parent company Alphabet was worth about $850 billion.

As the stock market has climbed up and up this year, technology companies have propelled the gains.

Mr Jobs's vision, showmanship and sense of style propelled Apple's comeback but it might not have happened if he had not evolved into a more mature leader after his exit from the company in 1985.

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.

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For what it's worth, Apple's trillion-dollar debut comes during one of the company's highest heights in terms of products.

October 2001: Apple unveils the iPod and opens its first real-world shops. Companies typically do so when they consider their stock to be undervalued-or to return funding to investors.

According to stock market trackers, Apple's shares are now worth $206.54 apiece, meaning Apple has managed to beat its tech rivals to become worth $1 trillion.

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

The $1 trillion milestone is largely symbolic, though impressive.

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

More than $600 billion of Apple's current market value has been created while Cook has been CEO.