Apple is officially worth more than $1,000,000,000,000

Apple is officially worth more than $1,000,000,000,000

Apple is officially worth more than $1,000,000,000,000

It's official: On Thursday, Apple became the first publicly traded U.S. company with a market capitalization over $1 trillion. That loss led to analysts and journalists predicting it would perish. So you would expect he would have a lot to say today when stock prices surged high enough to make his old employer the first trillion dollar company.

The share price jumped by more than 8 percent this week after Apple reported impressive quarterly earnings on Tuesday, driven largely by strong sales for high-price iPhones.

As with other landmarks - such as the Dow crossing 25,000 points for the first time - the Apple record is significant because of its resonance beyond the financial universe. But its stock fell 2.2 percent after the company warned of rising raw materials costs.

Among the other members of the so-called FAANG group of momentum stocks, Facebook Inc rose 2.7 percent, Alphabet Inc edged up 0.7 percent, Netflix rose 1.8 percent and advanced 2.1 percent. The rally continued on Thursday, propelling shares to the magic number of $207.05. He has pushed suppliers to improve labor practices and battled with US authorities over user-privacy tools like encryption.

The company is in the unique situation of controlling the hardware and software in its mobile devices, with content for users required to go through its App Store that takes a percentage of revenue. At a news briefing, China's foreign ministry spokesman called the United States' tactics "blackmail".

Germany's blue-chip index DAX, which is seen as a trade war proxy, fell 1.5 per cent while the broader pan-European STOXX 600 was down about 0.8 per cent.

The milestone reached Thursday marks the latest triumph of a trend-setting company that two mavericks named Steve started in a Silicon Valley garage 42 years ago.

"We're in risk-off mode after the back and forth between China and the USA on tariffs", said Priya Misra, head of global rates strategy at TD Securities in NY.

Euro zone government bond yields dipped, and borrowing costs in Germany and France pulled back from seven-week highs.

Apple on Wednesday stated in a regulatory filing that as of July 20, 2018, the company had 4,829,926,000 shares, said Howard Silverblatt, a senior index analyst with S&P Dow Jones Indices. Bloomberg News asked him about the US$1 trillion target in a February interview.

But its rise to the summit was short-lived, with the financial crisis and the collapse in the oil prices taking care of that.

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