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$1,000,000,000,000 - Apple becomes first tech firm to cross this milestone!

04 August 2018

What seemed to be once unthinkable is now a reality: with Apple's stock price hitting an all-time high of $207.05 on Thursday, the tech titan has become the first listed U.S. company to boast of a trillion-dollar market valuation.

In 2015, Apple joined the Dow Jones Industrial Average, one of capitalism's most exclusive clubs.

Its stock surged to its biggest gain in a year and a half today, soaring above the $207.04 value required for Apple to become a trillion dollar firm. "Apple went from hip to has-been in just 19 years", wrote the publication at the time. The company's various services such as Apple Music, iCloud and Apple Pay now represent $9.6 billion in revenue.

But there's no law against a company being worth more than $1 trillion.

Apple's shares have been gradually climbing upwards. The shares are up around 22 per cent so far this year.

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Canada's entire gross domestic product (GDP) is valued at about 1.7 trillion dollars right now.

Apple is quite some ways from completely controlling the world though, to become richer than any country it would have to surpass the GDP of the United States, which is now sitting at 19.4 trillion dollars. In its most recent quarter, Apple fetched an average price of $724 per iPhone - a almost 20 percent increase from an average of $606 per iPhone at the same time a year ago.

He said: "I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out".

With a market cap of $1 trillion, Apple has a value greater than the gross domestic product of most countries in the world, including Turkey, Switzerland, Saudi Arabia and Taiwan.

Consider the plight of Exxon Mobil, which was the most valuable USA company five years ago.

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That said, the competition's continued success doesn't lessen the significance of today's milestone - a capstone to the company's meteoric rise to power over the last decade after a period of near-death in the '90s.

The landmark is the latest victory for Tim Cook, who faced skepticism when he took over as chief executive in 2011 from ailing iconic co-founder Steve Jobs.

Amazon is in second place at $866bn, followed by Alphabet, the parent company of Google, at $843bn.

Though many investors consider Apple a hardware company, Jackson said most consumers have a different relationship with Apple's products.

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$1,000,000,000,000 - Apple becomes first tech firm to cross this milestone!