Race is on for second place after Apple's $1 trillion valuation

Apple Just Broke $1 Trillion Barrier

Oil giant PetroChina briefly topped a trillion dollar valuation in 2007 when its stock began trading in Shanghai, but shares quickly plunged afterward.

Behind Apple are Amazon, Google parent Alphabet, Microsoft and Facebook.

"The US$1 trillion mark is more psychological, and sends a message of growth and size into the market", said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

Apple flooded news headlines everywhere yesterday as its market value crossed $1 trillion for the first time after reporting handsome quarterly earnings. Now that Apple proudly sits at $1.004 trillion, what does it mean for Apple's CEO Tim Cook?

"China is a challenge, for sure, probably the biggest challenge that Apple faces in that regard because you have other services like WeChat that can potentially get in between your personal relationship with the phone", Jackson said. Apple's rising share price also speaks to the company's impressive ability to keep consumers interested in the iPhone, an impressive feat given that Apple's smartphone has now been around for more than 10 years.

NASA names astronauts for first manned U.S. space launches since 2011
Once they receive the certification, NASA expects the companies to launch as many as six crews to the International Space Station. On the first operational mission to the International Space Station , Sunita Williams and Josh Cassada would fly for Boeing .

On Wednesday, Apple's shares closed up nearly 6 percent and this was seen as its best one-day gain in 18 months, after reporting better-than-expected results on Tuesday night.

Apple, the world's most valuable publicly traded company, may be seriously undervalued, said longtime tech investor Eric Jackson, founder and president at EMJ Capital.

"While we have much to be proud of in this achievement, it's not the most important measure of our success", he wrote in a memo to employees, first obtained by Reuters. It now accounts for 4% of the S&P 500.

"Steve (Jobs) founded Apple on the belief that the power of human creativity can solve even the biggest challenges - and that the people who are insane enough to think they can change the world are the ones who do". In today's world, our mission is more important than ever...

He ended the letter writing: "Just as Steve always did in moments like this, we should all look forward to Apple's bright future and the great work we'll do together".

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