Apple Becomes The World's First $1 Trillion Company
Apple Becomes The World's First $1 Trillion Company
Apple becomes world's first trillion dollar company
04 August, 2018, 14:10
Apple has added another feather in its cap by becoming the first publicly listed United States company with the market value of more than $1 trillion.
Some anti-tech activists will nearly surely use the historic achievement as further evidence that the tech titans need to be shackled with regulation or broken up into more manageable pieces. A $1 trillion market cap may be a staggering achievement, but there are lots of things that make Apple a wonderful company.
Apple hit the $1tn (£767bn) mark after publishing shares which brought the value of the company up from $935bn.
The company's stock climbed on Thursday in the wake of a successful second financial quarter, leaving it a few billion dollars off the $1tr market cap. Apple also forecast a strong fourth quarter, posting a revenue guidance of between $60 and $62 billion.
With over 1 billionApple devices in daily use, the traction this ecosystem provides ensures that the company will have dependable returns regardless of market conditions.
Apple also boasts the most popular smart watch on the market.
Revenue in the fiscal third quarter soared 17 per cent to $53.3 billion from the same period a year earlier due to sales of pricier iPhones, online services and wearable devices.
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Apple has become the first US-listed company to be valued at a trillion dollars.
Clientes pasan frente al logo de Apple en una tienda de la empresa en Nueva York, ago 1, 2018.
The company beat Wall Street expectations on Wednesday with $53.3 billion in third-quarter revenue, up 17 percent from the same quarter past year. "Even though you don't have a contract that says your next iPhone you're going to upgrade in one year or two years, who among us who owns an iPhone is not going to, in three to four years, upgrade to the latest and greatest iPhone?" If someone had dared to buy $10,000 worth of Apple stock at that point of desperation, the investment would now be worth about $2.6 million.
Apple Chief Executive Tim Cook has a trillion reasons to smile.
As a supplier of the cutting-edge screens used on the iPhoneX, this supplier is on the front lines of the products that will drive Apple's growth - and profits.
Hot on Apple's heels is Amazon.com, the second-largest listed US company by market value, at around $880 billion, closely followed by Google-owner Alphabet and by Microsoft.
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Apple becomes world's first trillion-dollar company
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 quarter also marks a new revenue record for Apple services at US$9.5 billion which is a 31% increase year on year.