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

Apple Buybacks May Total $21 Billion in Q2

Apple Inc. on Thursday became the first USA company to surpass $1 trillion in market value, underscoring the iPhone maker's explosive growth and its role in the technology industry's ascent to the forefront of the global economy and markets.

While Apple was hovering just beneath the historic 13-figure number since late July, it wasn't until earlier this morning after stocks rose 2.7% to $207.05 - the highest in company history - that it became official.

Apple first listed in 1980 and its stock has risen more than 50,000% since then.

Neowin mentioned a few days ago that Apple was likely to pass the $1 trillion threshold thanks to the huge $53.3 billion in revenues it made in the last quarter. This is not the end, that they hit $1 trillion.

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Apple has become the first publicly traded company to be worth $1 trillion.

Apple with its world-class range of products is already one of the most valuable companies in the world and the increase in its popularity is surging day by day.

Before the release of the iPhone, Apple was reporting revenue of less than $20bn and profits of less than $2bn from the sale of its Mac personal computers in 2006.

This makes Apple worth more than the economies of countries such as Saudi Arabia, Switzerland and Taiwan. Amazon had the second-largest U.S. market cap as of Wednesday, at roughly $872.5 billion.

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Even with its $1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive.

Apple's stock price has been aided by its better-than-expected Q3 2018 earnings report.

Amazon, whose worth was just a third of Apple's in 2011, has seen its share prices surge in recent times.

Amazon, Google owner Alphabet and Microsoft have all rallied to near record highs this year, too.

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