Apple Becomes First $1 Trillion Company In History

Apple becomes world’s first public company worth $1 trillion

The Nasdaq finished decisively higher on Thursday (Aug 2) as Tesla shares enjoyed huge gains following earnings and Apple became the first private company to hit US$1 trillion in market value.

The company, which was started in a garage in Palo Alto by Steve Jobs and Steve Wozniak in 1976, has transformed the way people communicate with its ubiquitous iPhone.

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. Thursday Apple changed that equation, as it became the first publicly traded company to jump the one trillion dollar line.

The company's iPhone sales are where they have managed to thrive in recent years, but tech companies, in general, have seen great success in the past decade.

It is a market development that has been in the pipeline for well over a year.

Its stock has soared 9% since Tuesday when Apple's third-quarter earnings exceeded Wall Street's expectations. In three months, Apple saw profits of $11.5 billion on $53.3 billion in sales. However, the share price quickly fell back, leaving the company worth just $962 billion at the time of writing.

Tristan Thompson punched Draymond Green in nightclub feud
Which is why everyone was stunned when Thompson, according to sources, out of nowhere attacked Green . "It was more like a shove". Draymond allegedly tried to apologize to Tristan for what happened during Game 4 of The Finals, but Thompson wasn't having it.

Three dead as army open fire on Zimbabwe election protests
The MDC Alliance says the ruling Zanu-PF party has rigged Monday's presidential and parliamentary vote . Truckloads of anti-riot officers were called in to help clear the streets as tensions escalated.

Everton to offer Pickford improved contract
Chelsea are considering a £100million transfer bid from Real Madrid for goalkeeper Thibaut Courtois and midfielder Willian. With just over a week remaining of this summer's transfer window, there is still plenty of business to be completed.

Digging the information further, Apple technically is not the first company to hit $ 1 trillion mark in the United States stock market.

Gold prices inched downward after Fed's upbeat assessment of the economy on Wednesday to the lowest price in more than a year as the dollar, which typically has an inverse relationship with gold, rose. Jobs passed away in October, 2011.

The achievement seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1, on a split-adjusted basis., and its market value dropping below $2 billion.

The first company to ever be worth $1 trillion was Petrochina, which reached the valuation briefly on its first day of trading, following its 2007 IPO.

Adjusting for four stock splits over the years, Apple debuted on the stock market for the equivalent of 39 cents a share on December 12, 1980, compared to Thursday's high of $207.05.

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. The launch of the original iPhone was a turning point for Apple, and the relatively new iPhone X continued that trend, fueling a stock increase of more than 30-percent over the past year.

Related News:

  • Approach to NRC is weak, says Cong. MP

    Approach to NRC is weak, says Cong. MP

    She has critiques the ruling party and accused them of turning Indians into refugees in their own country. A full-blown political row has erupted ever since the final draft of Assam's NRC was published on Monday.
    Tesla shares rise despite bigger 2Q loss

    Tesla shares rise despite bigger 2Q loss

    It was the last financial update before the second half of the year, when Musk had vowed the company would be profitable. Excluding items, Tesla reported a loss of $2.45 per share, compared with expectations of a loss of $2.92.
    Sanctions on Russian Federation  will remain as is

    Sanctions on Russian Federation will remain as is

    Trump opened the press conference with remarks that suggested a confused understanding of the Italian elections in March. The two leaders stressed they meant to collaborate in the Mediterranean region and in efforts to stabilize Libya.
  • Urban Meyer put on paid administrative leave

    At Big Ten media days, Meyer said he knew of the incident in 2009 and that he and Shelley Meyer addressed it with the Smiths. According to the Cleveland Plain-Dealer , police were involved nine times between January 1, 2012, and July 26, 2018.
    US Believes North Korea Still Building Missiles

    US Believes North Korea Still Building Missiles

    Vice-President Mike Pence is flying to Hawaii on Wednesday to receive 55 boxes of bones recently handed over by North Korea. Initial forensic analysis suggested the remains were likely to be of American servicemen, the US military said .
    Manchester United To Break World Record For Defender?

    Manchester United To Break World Record For Defender?

    When they fell they are going to the knockout phase and can win the World Cup, they close each other. After much frustration, the above-mentioned players left Chelsea for pastures new and flourished.
  • Twins Send Dozier to Dodgers

    Twins Send Dozier to Dodgers

    The Minnesota Twins received second baseman Logan Forsythe and prospects Devin Smeltzer and Luke Raley in exchange for Dozier. Raley is now playing at the Double-A level and has hit.275/.345/.477 and has a.822 OPS with 17 home runs.
    Trump willing to shut down government over wall

    Trump willing to shut down government over wall

    McConnell told a radio interviewer last week that a shutdown so close to the November 6 midterm elections won't happen. Trump campaigned on the promise of building a border wall to deter illegal immigration and making Mexico pay for it.
    3D-printed gun blueprints blocked by United States  judge

    3D-printed gun blueprints blocked by United States judge

    The Trump administration issued a decision in June that allows for the online publishing of instructions for 3D-printed guns. Wilson has argued that the restriction on his company violates its First Amendment rights.
  • Aeromexico plane carrying 101 people crashes in northern Mexico

    Aeromexico plane carrying 101 people crashes in northern Mexico

    About 85 people face been reported injured, with the pilot the worst off, but authorities have said he's in a stable condition. Others have suffered burns, some over a quarter of their bodies, said Durango state Health Ministry spokesman Fernando Ros.
    Norcal Fire Crews Battling New ‘Eel Fire’ in Mendocino County

    Norcal Fire Crews Battling New ‘Eel Fire’ in Mendocino County

    Firefighters continue to make progress on the Carr fire , which has grown to 110,154 acres but is now 27 percent contained. The Mendocino Complex Fire has expanded to more than 24,000 acres in Northern California, according to fire officials.
    Facebook Might've Just Had The Worst Day In Stock Market History

    Facebook Might've Just Had The Worst Day In Stock Market History

    After a surprisingly weak growth forecast in this week's earnings report, Facebook's stock price dropped 19 percent. Ever since the Cambridge Analytica Scandal, Facebook had been the prime target for criticism.


Most liked

Verstappen 'not in the holiday mood' after Hungary retirement
Verstappen was forced to retire from fifth place in the early stages. "I was very angry over the radio", he admitted. For sure the first week I'm not really enjoying it because of the end of your last race, but that's how it is.

Here’s What You Get When a Whale and a Dolphin Mate
That's because a melon-headed whale is one of the various species that's called a whale but is technically a dolphin. The hybrid, pictured again in the foreground, was fathered by a rough-toothed dolphin, scientists said.

Quake hits Indonesia: Nearly 700 hikers trapped in volcano
Most of the hikers and guides were able to walk down after a safe route was found for them but some were flown out by helicopter. They included hikers from the United States, France, Germany, Thailand and The Netherlands, search and rescue officials said .

Dog that saved Amatrice quake victims is poisoned
Kaos was deployed in Amatrice, a town destroyed by a 2016 quake, to sniff out survivors and bodies. Italian police are investigating the suspected poisoning. "We shared everything.

Trial begins for Trump's former campaign chair, Paul Manafort
Gates and Manafort worked closely together for years, including in Ukraine, and they were indicted at the same time by Mueller. They were selected from a pool of 65 potential jurors, in a jury selection process that moved more quickly than anticipated.

The best photos of the weekend's lunar eclipse and blood moon
Many, especially Hindus, completed their dinner early by 8 pm on Friday and ate nothing till the eclipse came to an end. The planetarium had organised a "Moon Carnival" and set up special telescopes for people to experience the phenomenon.

Rihanna Says Having Her 'Thicc' Body 'Comes With a Price'
"I always knew it had to be Rihanna ", Enninful wrote in the magazine's editor's letter . The September issue of British Vogue hits newsstands on Friday 3 August .

Turkish court rejects appeal for U.S. pastor’s release
He added, " President Trump has made it abundantly clear that the United States expects Turkey to release him immediately". He was charged with being involved in a failed coup that year and with colluding with Kurdish militants.

RBI in a tight spot, is expected to raise rates again
For instance, every time the RBI lowers repo rate , banks are typically expected to pass on the benefit to retail customers. RBI had increased rate by 25 bps in the previous policy review after four-and-a-half years.

Dozens Of Salads And Wraps May Contain A Fecal Parasite, USDA Warns
The FDA is advising these products to be thrown away or returned to where they were purchased out of precaution. The salads and wraps were sold at popular stores such as Trader Joe's, Walgreen's, and Kroger .

Honor Note 10 smartphone to launch in China today
The 64GB and 128GB variants will be available starting 12pm IST tomorrow in Midnight Black and Sapphire Blue colour options only. There is also a 6GB and 8GB RAM variants with 128GB of internal storage priced at 3199 Yuan and 3599 Yuan respectively.

Hamill Writes Tribute to Carrie Fisher Following Episode IX Casting Announcement
Abrams revealed he'll be using footage from The Force Awakens in the upcoming film; a decision Hamill is in full agreement with. Star Wars fans the world over greeted Friday's news that Fisher would have a role in Episode IX with wistful excitement.

Trump calls Koch brothers 'a total joke'
At the center of the latest flare between the Kochs and Trump is support for Kevin Cramer , a Republican running for the U.S. Senate in North Dakota against incumbent Democrat Heidi Heitkamp . "We've got a message for lawmakers across the country".

Fake news on sites like Facebook causing crisis in democracy, say MPs
Cambridge Analytica whistle-blower Chris Wylie attends a demonstration in Parliament Square, London , in March. Facebook, Google and Twitter could be hit with new taxes to help fight the online battle against fake news.

Samsung Galaxy Note 9 price to be lower than Note 8
According to it, the Note 9 will launch in three colors: Mystic Black, Artisan Copper, and Engineered Blue. This is the cost of the 128 GB variant, the 512 GB one will be IDR17,5 million or somewhere around $1,215.