That’s trillion with a T-Apple hits market value of $1 trillion

Apple becomes world’s first trillion-dollar company

On Thursday, Apple became the first U.S. company to ever reach a $1 trillion worth when its shares climbed past $207.05, even reaching a new all-time high of $208.38.The record-breaking shares came after the firm announced impressive earnings that beat even optimistic forecasts.

"Apple's growing share of the high-end smartphone market positions the company with a strong, loyal customer base that could enable Apple to maintain the high levels of annual iPhone sales despite the higher (selling prices) for the iPhone X", Walkley says.

Last year, sales had risen to $229bn and profits to $48.4bn, making it the most profitable public-listed USA company.

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

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

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Amazon is in second place at $866bn, followed by Alphabet, the parent company of Google, at $843bn. The mighty one $1 trillion valuation of Apple is no more a dream for Tim Cook and Team. That was Chinese oil and gas giant PetroChina, which briefly topped $1 trillion in market value with its IPO in 2007, before the share price declined. 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.

Amazon is also close to hitting the $1 trillion mark, which is something we discussed earlier this week.

Today Apple passed a significant milestone.

The iPhone is regarded as a seminal product for Apple's trajectory as a company; in 2006, the firm's sales were less than $20 billion, with profits of almost $2 billion.

As bullish as Jackson is on Apple, he admitted China ー and consumers in other countries ー may stunt the company's growth because the iPhone faces competition from cheaper smartphones. Amazon had the second-largest United States market cap as of Wednesday, at roughly $872.5 billion. It is now worth about $200 billion, according to Thomson Reuters data.

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