Apple hits historic $1-trillion stock market valuation

Daniel Fowler
August 2, 2018

The iPhone-maker's shares struck an all-time high of $207.05 during trading in NY, pushing its market capitalisation past the landmark trillion-dollar level to $1.02 trillion.

Apple, the world's most valuable publicly traded company, became first to reach the milestone $1 trillion market value.

Still, the iPhone maker's stock is still up 2.3% on Thursday, and up 31% over the past year.

The first company to ever be worth $1 trillion was Petrochina, which reached the valuation briefly on its first day of trading, following its 2007 IPO. The tech giant had relatively flat iPhone sales but increased its revenue thanks largely to higher-priced models including the iPhone X, with a list price of just under $1,000.

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The $1 trillion milestone is largely symbolic, though impressive. Some market observers consider USA tech stocks to be overvalued, but few think we're in a bubble.

Its stock surged to its biggest gain in a year and a half today, soaring above the $207.04 value required for Apple to become a trillion dollar firm.

A company's market cap is calculated by multiplying the number of shares outstanding by its stock's share price.

A filing with the SEC yesterday showed Apple had revised its share count at 4,829,926,000 on 20 July, less than the 4,842,917,000 it reported on Tuesday for the end of the June quarter due to share buybacks. Apple's rising share price also speaks to the company's impressive ability to keep consumers interested in the iPhone, an impressive feat given that Apple's smartphone has now been around for more than 10 years.

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