Apple becomes first $1 trillion company

Apple becomes first $1 trillion company

According to USA standard time, Apple hit the highest stock value around 11:30 am on Thursday morning, creating history in the United States stock market to become $ 1 trillion company.

Apple has just won the race to be the first one trillion dollars publicly traded tech company after it's share price passed $207.04 a share today.

The company on Tuesday reported second-quarter earnings that topped Wall Street's expectations, sending shares surging by more than 5% into Wednesday.

The Silicon Valley firm's stock has surged more than 50,000% since its 1980 initial public offering, dwarfing the S&P 500's approximately 2,000% increase during the same nearly four decades.

Apple's share price pulled it to $1 trillion in market capitalization on Thursday. Analysts polled by Bloomberg have an average price target of $212.79, which would translate to a market cap of $1.05 trillion.

Founder Steve Jobs' return to Apple in the late-1990s helped turned around the company's fortune.

July 2008: Apple launches the online App Store to sell applications for the iPhone and iPod Touch.

Apple Chief Executive Tim Cook has a trillion reasons to smile. In recent years, Apple has been working to spread its cult-like following to newer devices like smart watches, cordless headphones and smart home speakers.

The rise is even more astonishing - 50,000% - since the company first listed in 1980. Apple was trading at $207 per share on Thursday.

With its 2018 iPhone lineup slated for release this fall, Apple is expecting to have a huge Q4 too.

Apple's stock has risen over 30 percent in the past year, fuelled by optimism about the iPhone X, launched a decade after the original.

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