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Apple becomes the world’s first trillion-dollar company

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Apple has become the world's first trillion dollar company

Apple Inc. on Thursday became the first USA company to surpass $1 trillion in market value, underscoring the iPhone maker's explosive growth and its role in the technology industry's ascent to the forefront of the global economy and markets. Obviously, the stock market is extremely volatile, so shares might not remain at $207.05 for very long, but for now at least, Apple is technically worth $1 trillion.

The stock has risen more than 21 per cent this year and an eye-watering 50,000 per cent since it became a public company in 1980.

The company was co-founded by the late Steve Jobs, a product innovator who helped prevent the company's collapse in the late 1990s.

The race to a $1 trillion market cap - symbolic as it is - has been closely watched on Wall Street.

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Neowin mentioned a few days ago that Apple was likely to pass the $1 trillion threshold thanks to the huge $53.3 billion in revenues it made in the last quarter.

Apple sold 43.1m iPhones in the June quarter, as customers flocked to its more expensive models like the iPhone X. The online sales company now has a market value of $880 billion dollars. Most of the people reading this are probably on an Apple device right now or own at least one product they have offered.

The iPhone maker was named as the only publicly listed U.S. company to be valued at $1,000,000,000,000 just before 5pm this afternoon.

It may have been the vision of Steve Jobs that hurtled Apple towards this milestone, but it was the business acumen of Tim Cook that tipped them over. Shares of Apple this week traded at about 15 times expected earnings, compared with Amazon at 82 times earnings and Microsoft at 25 times earnings. "Of course, one can argue that the slower gains leave more room for upside for Alphabet stock, but I think it's more a sign that the company simply doesn't have the fuel needed to sprint across the finish line". The social media giant's market cap has sunk to $492.46 billion, and it may take some time for them to hit a trillion. So who's going to pay for it? It is now worth about $200 billion, according to Thomson Reuters data.

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