Apple Becomes World's 1st Private-Sector Company Worth $1 Trillion

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Apple Becomes World's 1st Private-Sector Company Worth $1 Trillion

Independent technology analyst Rob Enderle said Apple's trillion-dollar valuation defied financial trends in recent quarters and potential defeat in a legal battle with Qualcomm over mobile chips.

Apple's previous quarter was equally bullish with Cook reporting the firm's "best March quarter ever".

Amazon is still a distant second if you take into consideration the next two companies in the upper echelon of the USA market cap ladder: Google parent Alphabet and Microsoft are both breathing down Amazon's neck, with valuations of $852.73 billion and $822.78 billion, respectively.

Well, it's happened. Apple is now officially the first trillion-dollar American company, after its stock price ended yesterday at $207.39. It's gonna be a moment to remember.

Since the iPhone first went on sale in 2007, Apple shares have soared by 1,100% and have jumped nearly a third in the past 12 months.

The company, which was started in a garage in Palo Alto by Steve Jobs and Steve Wozniak in 1976, has transformed the way people communicate with its ubiquitous iPhone.

Wall Street thinks Apple shares can go even higher too.

However, there's was a bit of excitement leading up to this milestone: the number of its shares, which is arguably the main player in all these. For those who like visuals, in numerals that is 1,000,000,000,000.

And seems like Apple is not the only one to surpass the $1 Trillion mark.

Virtual assistant Siri is built into Apple devices, and the company boasts the most popular smart watch on the market.

Apple has sold more than a billion iPhones.

The symbolic stock market accomplishment is a "natural result" given Apple's winning steps, and is "certainly not the finish line", Creative Strategies analyst Carolina Milanesi reasoned in an AFP interview.

In 2007, Chinese government-controlled PetroChina 601857.SS briefly reached a stock market value of about $1.1 trillion following its public listing in Shanghai. The company also boosted its revenue from services, including Apple Music and the app store. In fact, while the company's iPhone earnings for the quarter grew 20% year-over-year because of higher smartphone ASPs, Apple's services revenue grew 31% year-over-year as the company has been expanding its offerings for some time now.

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