Apple becomes world's first trillion dollar company

Apple becomes world's first trillion dollar company

Today, Apple's dominance of the financial world has reached a new milestone-the company has now topped $1 trillion in market capitalization, the collective value of all its shares of stock.

Apple is the first US company to hit the $1T milestone; here's why AAPL shares can climb even higher. The gains came after the iPhone maker reported strong earnings late Tuesday that prompted a two-day rally in the share price. 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.

April 1976: Jobs, Wozniak and Ronald Wayne create Apple Computer to sell an eponymous computer hand-built by Wozniak. 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.

Last year, sales had risen to $229bn and profits to $48.4bn, making it the most profitable public-listed United States company.

Speaking to Bloomberg's Emily Chang in the past, Apple CEO Tim Cook reportedly said that "I don't really think about [hitting $1 trillion]..." "Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline".

Rare dolphin-whale hybrid spotted near Hawaii
Hybrids can be the effect of a population drop in one species and an individual experiences difficulty in finding a mate. Before you go tie your head in knots wondering how a whale managed to successfully reproduce with a dolphin - it didn't.

Apple generates less profit from each dollar of sales than it did in 2010, when it was worth one-quarter as much.

About 11 years after launching, the device represents both the biggest opportunity and challenge for Apple and Cook. Apple said it now has 4.83 billion shares outstanding.

So maybe in 50 years, we'll all be living in houses we bought from Amazon and filled with Google, Apple and Microsoft products. That wealth creation exceeds the current market value of every publicly traded USA company except Amazon, Microsoft and Google's parent, Alphabet.

The race to a $1 trillion market cap - symbolic as it is - has been closely watched on Wall Street. Cook insisted what Apple was doing was legal and in the best interest of shareholders, given the offshore money would have been subjected to a 35 percent tax rate had if it were brought back to the U.S.

The company founded by Steve Jobs, however, is not the first to achieve this feat.

Related Articles

  • Chipotle Shuts Down Ohio Restaurant After Reports Of Illness Outbreak

    Chipotle Shuts Down Ohio Restaurant After Reports Of Illness Outbreak

    "We acted quickly and closed this single restaurant out of an abundance of caution yesterday", the company said in a statement. A Chipotle restaurant in OH has reopened as officials investigate reports of illnesses linked to the location.
    English Premier League Herrera defends Martial 22 Jul 2018, 16:45

    English Premier League Herrera defends Martial 22 Jul 2018, 16:45

    The Reds boss appeared completely unperturbed by United's second consecutive draw on its U.S. friendly tour, conceding: "We are not a team".
    Segment Samsung Galaxy On8 now in India

    Segment Samsung Galaxy On8 now in India

    The Galaxy Tab A's battery measures in at 7300mAh, it's running Android 8 .1 Oreo , and it has a USB Type-C port for charging. Samsung has set a price of Rs 16,990 for the Galaxy On8 , and it can be purchased from both the portals starting August 6.
  • White House chief of staff to stick around for now

    White House chief of staff to stick around for now

    Today we celebrate his first full year as @WhiteHouse Chief of Staff! But Trump has chose to stick with Kelly - for now, at least. It's a one-man show and no one is getting in the way of Trump's delusion that he's nailing it on a daily basis.
    Chance for Virat Kohli to topple Smith in ICC rankings

    Chance for Virat Kohli to topple Smith in ICC rankings

    "The team will be celebrated with a day of activity at Edgbaston on Day three of the Specsavers Test against India on Friday 3rd August". "I feel fresh.
    Donald Trump tells attorney general to end Russia probe

    Donald Trump tells attorney general to end Russia probe

    Al Capone, the infamous gangster, was convicted of tax evasion and served most of the 1930s in prison before being paroled. Moscow has denied such interference, and Trump has denied any collusion by his campaign, or any obstruction of justice .
  • Ohio State using 'special, independent board' to run Urban Meyer investigation

    Ohio State using 'special, independent board' to run Urban Meyer investigation

    He pleaded not guilty, and a hearing is scheduled for Friday. "I was never told about anything and nothing ever came to light". Urban Meyer was introduced as the "Breakfast Coach" for Ohio-based Bob Evans restaurants bright and early just four days ago.
    Huawei Launches Honor Note 10 With A 7 Inch Screen

    Huawei Launches Honor Note 10 With A 7 Inch Screen

    This phone could also be expected to have vertically-stacked dual-rear cameras, though their specifications are not known yet. One thing the phone lacks is a 3.5mm headphone jack is the first time we have a flagship from Honor with no headphone jack.
    YouTube dark theme rolling out on Android

    YouTube dark theme rolling out on Android

    Back in May past year , YouTube rolled out Dark Mode (or Dark Theme , whatever you want to call it) for its desktop site. The mobile dark theme is just like its web version, it uses black and dark shades of gray for the app's background.
  • Ohio's back to school tax-free weekend approaches

    Ohio's back to school tax-free weekend approaches

    Louisiana's Department of Revenue estimates the sales tax holidays would have cost the state $5.2 million in taxes this year. Mississippi's was last weekend, while Arkansas' is schedule Saturday and Sunday and Texas' is scheduled August 10-12.
    Satellite Footage Shows Rapid Growth of the Deadly Californian Wildfires

    Satellite Footage Shows Rapid Growth of the Deadly Californian Wildfires

    Justin Sanchez recorded his family's getaway as a deadly California wildfire and firenado barreled toward them last week. Unlike the Carr Fire, authorities don't know what started the Ferguson Fire, which has now engulfed almost 63,000 acres.
    Zimbabwe police fire water cannon, teargas at opposition protesters

    Zimbabwe police fire water cannon, teargas at opposition protesters

    This is exactly why we wanted change. "The results are a gimmick to try and prepare Zimbabwe for a rigged election". Inevitably, perhaps, the riot police then the army arrived and they gradually retook the city centre by force.