Apple becomes world's first public company worth $1 trillion


During the day, the share price of the iPhone maker jumped by 2.8% to $207.05, passing the $1tn (£762bn) mark in NY trading.

SAN FRANCISCO Amazon, Microsoft and Alphabet are locked in a tight race to become the second publicly-listed US company to reach a $1 trillion stock market value after Apple became the first to touch the 13-digit milestone.

Apple's share price pulled it to $1 trillion in market capitalization on Thursday. The iPhone now accounts for almost two-thirds of Apple's revenue.

As with other landmarks - such as the Dow crossing 25,000 points for the first time - the Apple record is significant because of its resonance beyond the financial universe. Apple, Amazon, Google, and Facebook are, as critic and NYU marketing professor Scott Galloway has dramatically put it, "our new gods, our new source of love, our consumptive gods", and they must be confronted and controlled by their worshippers - us.

Along the way, it has changed how consumers connect with one another and how businesses conduct daily commerce. On Thursday, Amazon's market capitalization was around $874 billion. It now accounts for 4 percent of the S&P 500.

He launched the iPhone in 2007, dropping "Computer" from Apple's name and super-charging the cellphone industry, catching Microsoft, Intel, Samsung and Nokia off guard. Just months away from his death, Jobs officially handed off the CEO reins to Cook in August 2011.

But Apple stocks crossed $207.05 per share, before settling a little lower yesterday.

That’s trillion with a T-Apple hits market value of $1 trillion
For what it's worth, Apple's trillion-dollar debut comes during one of the company's highest heights in terms of products. Companies typically do so when they consider their stock to be undervalued-or to return funding to investors.

Jeff Carbone, co-founder of Cornerstone Financial Partners in Charlotte, North Carolina, has included Apple in his clients' portfolios for about a decade.

Last month, an ex-Apple engineer was charged in California with stealing trade secrets from a hush-hush self-driving auto technology project days before he quit to go to a Chinese start-up. "Our business performed extremely well during the March quarter, as we grew earnings per share by 30 percent and generated over $15 billion in operating cash flow", said Maestri in the firm's statement. Its new all-time high is $208.38 (₱11,079.46).

Apple sold 43.1m iPhones in the June quarter, as customers flocked to its more expensive models like the iPhone X.

As a supplier of the cutting-edge screens used on the iPhoneX, this supplier is on the front lines of the products that will drive Apple's growth - and profits.

However, there's was a bit of excitement leading up to this milestone: the number of its shares, which is arguably the main player in all these. All that money coming back to the USA also spurred Apple to raise its dividend by 16 percent and commit to buy back $100 billion of its own stock as part of an effort to drive its stock price even higher.

Some anti-tech activists will nearly surely use the historic achievement as further evidence that the tech titans need to be shackled with regulation or broken up into more manageable pieces.

Actually PetroChina, a state owned oil giant, was the first company to hit this mark during its initial public offering in 2007, though its value has declined dramatically since then. It is now worth about $200 billion, according to Thomson Reuters data.