Race is on for second place after Apple's USD 1 trillion valuation


After a hectic week in trading, iPhone manufacturer Apple yesterday became the world's first $US1 trillion dollar company after shares closed above the threshold needed to reach the benchmark.

Behind Apple are Amazon, Google parent Alphabet, Microsoft and Facebook.

For as much as Apple shares have increased over the past few days, some analysts and tech observers are confident the stock could rise even higher in the weeks and months ahead.

Founded in 1976, the house of Steve Jobs now holds the trophy engraved with "the world's first 1 trillion dollar company" title. Apple - the biggest public company in the world - had 4,829,926,000 shares outstanding as of July 20, which meant its stock had to hit $207.05 to be worth $1 trillion. The company's stock price started rising subsequently, resulting in 2.92 percent gain during the trading hours and closing at $207.39 in NY on Thursday.

Apple co-founder Jobs envisioned breakthrough hardware and software architecture where the Apple users never have to leave the company's ecosystem.

Deadly California blaze spawned destructive fire tornado
As of Friday, Caltrans says SR-175 between Hopland and Lakeport is re-opened, after being closed since Sunday by the River Fire. The fire has charred an area of the forested, rural area five times the size of San Francisco and is only 30 percent contained.

Apple's recent strength, on a technical basis, can be tied to a successful defense of support at its 50-week SMA in April (see chart below).

Amazon (AMZN.O), Microsoft (MSFT.O) and Alphabet (GOOGL.O) are locked in a tight race to become the second publicly-listed USA company to reach a $1 trillion stock market value after Apple (AAPL.O) became the first to touch the 13-digit milestone.

Today Apple passed a significant milestone. "Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to our values". "It's not the most important measure of our success". For the past three years, growth of Apple shares has outstripped that of the S&P 500 index by 37 percent.

Cook has put a focus on digital content and services, positioning Apple to make money from music, movies, apps, subscriptions and more - all sold to the vast "install base" of people using devices made by the company.

"Just as Steve always did in moments like this, we should all look forward to Apple's bright future and the great work we'll do together", he added.