Apple hits $1,000,000,000,000

04 August, 2018, 02:04 | Author: Sheri Evans
  • Apple is closing in on a $1-trillion market valuation

Apple became the first publicly traded American company to reach a trillion-dollar market capitalization on August 2, when its share price surged following the announcement of record second-quarter financial results. At exactly 11:48a ET, on August 2, 2018, Apple stock crossed $207.05 per share.

And if the trillion thing wasn't impressive enough, then get a bit of this - Apple's stock has risen more than 50,000% since it first listed in 1980.

The tech company, launched from a garage in 1976, has been on a steady climb through the years, revolutionizing personal computers and phones with its Macs and iPhones.

Apple has successfully reached a market capitalization of $1 trillion following this week's earnings release.

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Apple said it expects revenue of $60 billion to $62 billion for the fiscal fourth quarter that ends in September 30.

More recently, Apple has been in a race to $1 trillion with Seattle-based e-commerce giant Amazon, which is now valued around $879 billion.

Heck, Amazon.com (AMZN, $877 billion), Google parent Alphabet (GOOGL, $852 billion) and Microsoft (MSFT, $825 billion) aren't all that far behind the vaunted trillion-dollar level.

His successor and incumbent Apple CEO Tim Cook, meanwhile, is downplaying the valuation.

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Virtual assistant Siri is built into Apple devices, and the company boasts the most popular smart watch on the market. Fast forward 21 years, and today the very company has created the history by becoming the first tech company in the world with a valuation of $1 trillion.

Apple's rise in recent years has signaled the strength of the technology industry.

The iPhone maker was named as the only publicly listed USA company to be valued at $1,000,000,000,000 just before 5pm this afternoon. Congratulations to Apple for reaching this milestone!

True, Apple's earnings growth rate is slowing down.

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"It is not just about inventing new products, it is about delivering more value to current products through services and apps that can deliver revenue", said analyst Milanesi. On Thursday, Amazon's market capitalization was around $874 billion. The Company boasted a revenue of $61.1 billion, a 15% increase from the year-ago quarter.

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