Apple Is First Public Company Worth $1 Trillion

Apple Is First Public Company Worth $1 Trillion

Apple Is First Public Company Worth $1 Trillion

In early morning trading on Thursday Apple's stock jumped 2.8 percent and sent the company over a magic hurdle as it became the world's first private-sector publicly traded company with a market value of $1 trillion.

Apple, which has seen its stock surge more than 50,000% since its stock market listing in 1980, has struggled to produce a product that replicates the success of the iPhone.

Since 2007, 18 different iPhone have been launched and more than 1.2bn of the devices have been sold.

Apple's CEO said he thanked his staff "from the bottom of my heart" for working late hours, extra trips and "all the times you refuse to settle for anything less than excellence".

The milestone marks the triumph of stylish technology that has redefined what we expect from our gadgets ever since two mavericks named Steve started the company 42 years ago. However, the share price quickly fell back, leaving the company worth just $962 billion at the time of writing. Apple also forecast a strong fourth quarter, posting a revenue guidance of between $60 and $62 billion.

The first company to hit $1 million in market capitalization. Apple announced $100 billion in stock buybacks on May 1, the largest repurchase ever by a USA public company.

Consider the plight of Exxon Mobil, which was the most valuable USA company five years ago. Now that is something we're not surprised out - they bring a new one out for every occasion.

"Apple takes confidentiality and the protection of our intellectual property very seriously", the company said in response to an AFP query about the case. Some progressives take issue with all the money Apple gives back to its shareholders, almost $44 billion during the first six months of this year.

Tim Cook thinks that, while it is a milestone for Apple, it is "not the most important measure of our success".

Originally founded as a maker of computers in 1976, Apple expanded to dozens of product categories in the 1990s, many of which were unsuccessful.

All of these products and more have helped Apple get to where it is today the world's leading company, a position that Apple will need to fight to keep against increasingly tough competition.

That's a great return, and Apple stock is one of the best buys you can make.

Hot on Apple's heels is, 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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