Apple becomes world's 1st publicly traded trillion-dollar company

Daniel Fowler
August 3, 2018

With a closing price of $207.39 on Thursday, Apple became the first publicly listed USA company to ever reach $1 trillion in market capitalization.

Apple just became the first company to be worth $1 trillion on the public markets.

On Tuesday, Apple reported that net profit jumped more than 30 percent to $11.5 billion. But that peak coincided with a Chinese stock-market bubble, and PetroChina's shares would lose $800 billion in value over the next 10 years. "The question now is not [whether we] can we turn around Apple", he said in an early internal meeting.

Hit parade: Apple pioneered personal computing back in the 1980s but almost went bankrupt in the 1990s.

Apple was worth about $350 billion when Jobs died, so Cook has led the creation of even more stock-market value than his former boss and mentor.

And seems like Apple is not the only one to surpass the $1 Trillion mark.

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Cook went on to acknowledge Apple's maverick founder Steve Jobs for having built a unique, customer-centric company that builds products to "enrich lives". And that the first biggest players in this market-Amazon, Microsoft, Alibaba, and Google-accounted for about 73 percent of it collectively.

To survive, Apple brought back its once-exiled co-founder, Steve Jobs, as interim CEO and turned to its archrival Microsoft for a US$150 million (NZ$222 million) cash infusion to help pay its bills.

Its shares have increased more than 2.5 per cent so far this afternoon, bolstered by positive quarterly results for the Cupertino company in which it smashed analyst expectations. In August 2011, 18 months after iPad was launched, the firm was worth a whopping $624 billion.

The milestone reached Thursday marks the latest triumph of a trend-setting company that two mavericks named Steve started in a Silicon Valley garage 42 years ago. Stock in the technology company reached the huge number during trading on Thursday.

But Cook has gradually won accolades from investors by pumping out a series of solid financial results and spreading Apple's products to China and other foreign markets.

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