Apple surges to $1 trillion in market value

Jermaine Castillo
August 4, 2018

A day after posting strong results for the third quarter of fiscal 2018, Apple has become the world's first publicly traded company with a market capitalization of over $1 trillion.

The peak reached Thursday seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1.

Revenues like that are the reason that Apple has managed to grow 50,000% since it listed in 1980, while other firms on the S&P 500 have only grown 2,000% in the same timeframe.

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. Jobs returned the next year, and the company got back to making innovative and elegant consumer products: from iMac to iPod to iPhone. That put Apple on a path to overtake Exxon Mobil in 2011 as the largest US company by market value.

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Since 2007, 18 different iPhone have been launched and more than 1.2bn of the devices have been sold.

In a memo to Apple's more than 120,000 employees on Thursday that was seen by Reuters, Chief Executive Tim Cook said the $1 trillion valuation was "a significant milestone" that gave Apple employees "much to be proud of". "The five-year chart for all three companies show pretty steady upward climbs, but Alphabet's gains only tally 116 per cent versus almost 500 per cent for Amazon and 220 per cent for Apple", Robert Martin of InvestorPlace Media wrote.

Apple is the first USA company to hit the $1T milestone; here's why AAPL shares can climb even higher.

Apple is the world's most popular tech brand out there, no-brainer.

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Independent technology analyst Rob Enderle said Apple's trillion-dollar valuation defied financial trends in recent quarters and potential defeat in a legal battle with Qualcomm over mobile chips.

"Apple went from hip to has-been in just 19 years", wrote the publication at the time. Congratulations to Apple for reaching this milestone!

"Alphabet's pace of growth simply isn't as impressive as Amazon's and Apple's". Apple's own "Stocks" app, which is based on Yahoo Finance data, also put the company's value at $1.01 trillion. That's not only fair; it's a more sustainable approach, too, and perhaps even admirably old-fashioned.

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