Published: Sat, August 04, 2018
Markets | By Terence Owen

Apple is first public company worth $1 trillion

Apple is first public company worth $1 trillion

Apple made history Thursday when it became the first publicly listed USA company to be valued at $1 trillion. The tech giant crossed the $1 trillion threshold when it hit $207.04 per share earlier this morning, though it has since trended down.

The iPhone and MacBook maker has seen its stock rise over 50,000% since it was first listed as a public company in 1980.

Since the death of legendary Apple co-founder and pitchman Steve Jobs in 2011, analysts have watched for the company to wow the world with the next "big thing" that will shake up culture and fuel revenue like the Macintosh, the iPod or the iPhone.

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

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.

At the time of publishing, based on the adjusted $205.74 share price, Apple's close to the trillion-dollar valuation, but not quite there yet, sitting at about $955.08 billion in market cap according to Google Finance.

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Apple Chief Executive Tim Cook has a trillion reasons to smile.

Even with its $1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive. Congratulations to Apple for reaching this milestone!

Let's take this moment to thank our customers, our suppliers and business partners, the Apple developer community, our coworkers and all those who came before us at this remarkable company. By a year ago, its sales had grown more than 11-fold to $229 billion - the fourth highest in the S&P 500 .SPX - and net income had mushroomed at twice that rate to $48.4 billion, making it the most profitable publicly listed USA company.

Since September 2017, Apple has seen double-digit year-on-year revenue growth across the Greater China region. But, it's likely just a stepping stone to even more gains.

One of those is Canada, but Apple isn't that far behind us now. Depending on who is doing calculations, the valuation of Saudi Aramco state-controlled oil and gas company is between $1.2 billion and $1.5 billion.

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