Apple becomes first $1 trillion publicly listed USA firm

Apple becomes world’s first public company worth $1 trillion

During the day, the share price of the iPhone maker jumped by 2.8% to $207.05, passing the $1tn (£762bn) mark in NY trading.

The tech company's stock jumped 2.8 percent to as high as $207.05, bringing its gain to about 9 percent since Tuesday when it reported June-quarter results above expectations and said it bought back $20 billion of its own shares.

Apple Inc (AAPL.O) Chief Executive Tim Cook said on Thursday that the iPhone maker's $1 trillion market capitalization was "not the most important measure" of the company's success but was instead a result of its focus on its products, customers and company values.

More recently, Apple has been in a race to $1 trillion with Seattle-based e-commerce giant Amazon, which is now valued around $879 billion.

Apple closed Thursday above the $1 trillion mark, finishing the day up 2.92 percent at a share price of $207.39.

Apple's profits and cash flow continue to pile up, and they are the envy of the corporate world.

The company's fortunes were turbocharged by the launch of personal gadgets such as the iPod in 2001 and the iPhone in 2007. That company is now worth about $205 billion.

China-based Huawei took the second-place spot from Apple in a tightening global smartphone market during the second quarter of this year, according to the International Data Corporation.

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At the time of writing, Apple has already retreated from the $1 trillion valuations, and the fate of the last company to reach $1 trillion may be an object lesson to investors.

If you invested $10,000 in Apple when it first sold publicly traded stock at its initial public offering price of $22 in December 1980, it would now be worth around $6.3 million, including reinvested dividends.

The race to a $1 trillion market cap - symbolic as it is - has been closely watched on Wall Street.

Apple is among the most widely held stocks in the world.

Apart from Apple it seems Amazon is also expected to reach the $1 trillion mark soon.

Apple just became the first American public company to cross $1 trillion in value. During the Q3 earnings call, Cook hinted to reporters that Apple's long-rumored original content and streaming play might soon start showing dividends, and it's been rumored to have self-driving vehicle and augmented reality teams with good prospects in the pipeline. More than $600 billion of Apple's current market value has been created in that time.

The company beat Wall Street expectations on Wednesday with $53.3 billion in third-quarter revenue, up 17 percent from the same quarter a year ago.

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