Apple briefly becomes the first $1 trillion US company

04 August, 2018, 02:02 | Author: Elaine Woods
  • Why Apple is inches away from $1 trillion valuation

Apple Inc. on Thursday became the first US 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. At exactly 11:48a ET, on August 2, 2018, Apple stock crossed $207.05 per share.

"We expect over the next year, investors will look favorably on Apple given the company's privacy-first ethos in an age where privacy is becoming a more prevalent topic".

Apple's success was fueled in large part by its iPhone, which transformed it from a niche player in the burgeoning personal computer sector into a global technological powerhouse. Jobs returned the next year, and the company got back to making innovative and elegant consumer products: from iMac to iPod to iPhone.

The Cupertino, California company's shares added another 0.3 percent on Friday, putting its market capitalization at $1.005 trillion.

Apple shares rose 2.7% today and they're up 22% so far this year.

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.

This meant that Apple touched the landmark before its closest rival - retail giant, Amazon.

Mr Jobs died in 2011 and was succeeded as chief executive by Tim Cook.

North Korea 'making new missiles' despite U.S. pledge
North Korea has steadfastly argued its nuclear weapons are meant to neutralize alleged U.S. plans to attack it. The Netherlands contributed 4,700 soldiers to United Nations efforts to end the Korean war of 1950 to 1953.

China offers post-Brexit trade talks with Britain, says Jeremy Hunt
It's been less than a month since Hunt was appointed foreign secretary, but he has already caused embarrassment. Mr Hunt has been married to Lucia since 2009 and the couple have three children.

Canada launches NAFTA challenge of 'illegal' US tariffs on solar panels
President Donald Trump calling for a reboot of the talks towards a new three-way continental trade pact. Obrador wrote in the letter that was delivered to Trump at talks in Mexico on Sunday.

The milestone marks the financial fruit of stylish technology that has redefined society since two mavericks named Steve started the company 42 years ago.

The memo, shared by Buzzfeed, paid homage to Steve Jobs, with Cook reasserting that "Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges - and that the people who are insane enough to think they can change the world are the ones who do".

Apple is worth $1,001,679,220,000.

The world's most valuable company has also goosed its stock price through buybacks.

Although many have doubted Apple's staying power over the years, unlike many hardware makers the company has ridden the elegance and functionality of its devices.

While that kind of innovation has yet to reach store shelves, Apple has consistently defied dour predictions. That's not only fair; it's a more sustainable approach, too, and perhaps even admirably old-fashioned. On Thursday, Amazon's market capitalization was around $874 billion.

By 1997, the company had fallen on hard times and shares were worth just a few dollars.

Recommended:



Popular

Iowa Reports First West Nile Death of 2018
Do not forget to drain water from tires, cans, flowerpots, clogged rain gutters, rain barrels, toys and puddles. It's not uncommon to find West Nile virus in mosquitoes found in Peel Region.

Facebook Pulls Fake Accounts That Mimic Russian Tactics Ahead of Election
Facebook said over 290,000 users followed at least one of the pages, the earliest of which was created in March 2017. The most popular of the now-banned Pages include Aztlan Warriors , Black Elevation, Mindful Being, and Resisters .

Harley-Davidson unveils new range of electric motorbikes and an electric bicycle
Harley-Davidson has also announced that it will launch its first electric motorcycle, the Harley-Davidson LiveWire in early 2019. The company expects the 250-500cc motorcycle segment in India to grow at more than 25% annually through 2021, the daily added.

We suspect arson, Greek minister says of wildfire
They said the fires spread because of dry conditions, strong winds and bad construction planning that hampered escapes. Mr Kammenos was confronted by angry locals as he visited areas devastated by fires east of Athens this week.

Israel shoots down Syrian warplane
He said it is not known if the plane deliberately crossed into Israel, and the fate of the pilot is also unknown. The plane flew toward Israel at "relatively high speed" before breaching the country's airspace, said Conricus.

Senate Republican warns Russia on election meddling
They asked for more questioning, more documents and more money for states to secure their election infrastructure. Trump later attempted to clarify his remarks by saying he misspoke a single word.

EPL: Arsenal take poor penalties in loss to Atletico in Singapore
The 53 year-old has struggled to become a favourite with the fans at the Emirates after failing to meet promises. "It's every day. Cape Town - Aaron Ramsey says his agent is now in talks with Arsenal over a possible new deal at the Premier League club.

Juncker seeks to avoid auto tariffs in Trump meeting
He added: "I appreciate the fact that they realize the farmers are being hurt by this, but this is not the right remedy". American farmers depend on being able to sell overseas, and tariffs make what they produce more expensive.

Israel Evacuates Syria White Helmets Volunteers to Jordan
The UK is to offer asylum to members of western-backed White Helmets group, that operates in Jihadists-held areas in Syria . Assad's forces recently overwhelmed rebel areas bordering Jordan and Golan Heights , Syrian territory occupied by Israel .

Alphabet reports robust earnings despite European Union fine
Traffic acquisition costs, a key metric in Google's ad business, went up to 23% of ad revenue in the second quarter. With the European Union penalty baked in, Google posted earnings of $4.54 per share on $32.66 billion in revenue.