Apple hits $1 trillion stock market valuation

Apple hits $1 trillion stock market valuation

Apple officially reached a market capitalization of $1 trillion as it stock surged again Thursday, making it the first USA company to hit the massive valuation.

This achievement is the evidence of Apple's long-standing dominance in the industry.

Apple's share price pulled it to $1 trillion in market capitalization on Thursday.

Apple has sold more than a billion iPhones. Its market value might be double that of Apple or even more.

Cook is correct in his assessment that market cap alone is not the best measure of success - all one needs to do is read up on Petrochina, the Chinese oil giant that reached a $1 trillion market cap in 2007, only to lose almost four fifths of its value by the end of next year. Under Cook's stewardship, Apple has continued its meteoric climb, doubling its annual revenue to reach to $229 billion and quadrupling its stock since he took the reins.

"The $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.

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. The shares are up around 22 per cent so far this year.

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Part of the argument against a company hitting a trillion dollars in market value - and staying there - is finance's so-called law of large numbers.

Amazon is also close to hitting the $1 trillion mark, which is something we discussed earlier this week.

"With the company's sales reorganisation firing at all cylinders and last year's re-org in rear view, we expect solid execution amid a strong demand environment to drive ongoing double-digit growth", Piper Jaffray analysts led by Alex Zukin wrote in a note.

Chief executive Tim Cook credited strong iPhone and digital services sales - including streaming platform Apple Music - for the boost, which exceeded Wall Street forecasts.

This streamlining is putting millions of dollars in the pockets of small companies, which now have a vital role in producing some the world's most popular products.

He said: "I think what Kanye West is going to mean is something similar to what Steve Jobs means". Amazon's in second place, with a market cap of $884.86 billion, and good ol' Google (well, Alphabet, technically) is in third at $854.49 billion.

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