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

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

Jobs, who founded Apple in a Silicon Valley garage in 1976 with Steve Wozniak and built it into a global powerhouse, died in October 2011. Along the way, it has changed how consumers connect with one another and how businesses conduct daily commerce.

Apple is officially the first American company to hit a $1 trillion valuation.

Apple's cult following is largely credited to Kawasaki, who coined the phrase evangelism marketing, a strategy that helps companies get customers to believe so strongly in a product that they try to convince others to buy it.

It is a market development that has been in the pipeline for well over a year.

The gains came after the iPhone maker reported strong earnings late Tuesday that prompted a two-day rally in the share price.

In 2006, the year before the iPhone launch, Apple generated less than $20 billion in sales and net profit just shy of $2 billion. However, it may continue to remain or levelling around $ 1 trillion mark in the stock market.

CBS Board to Discuss Sexual Harassment Allegations Against CEO Les Moonves
The board also said on Monday that it would postpone its annual meeting of stockholders, which was scheduled to be held August 10. Looking directly into a camera Chen said, "Some of you may be aware of what's been going on in my life the past few days.

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

Digging the information further, Apple technically is not the first company to hit $ 1 trillion mark in the U.S. stock market.

Based on that number, Apple's stock needed to reach $207.05 a share to be worth $1 trillion, which it did today. Shares of Apple this week traded at about 15 times expected earnings, compared to Amazon at 82 times earnings and Microsoft at 25 times earnings. It's since fallen slightly, but not enough to knock Apple back down into the billions. On Thursday, Apple stock touched the all-time high value of $ 207.05 per share. Other tech giants are not far behind Apple today, with Amazon.com Inc., Alphabet Inc. and Microsoft Corp. worth more than US$800 billion each. The company's various services such as Apple Music, iCloud and Apple Pay now represent $9.6 billion in revenue.

It's official: On Thursday, Apple became the first publicly traded United States company with a market capitalization over $1 trillion.

But Cook has capitalized on the continuing popularity of the iPhone and other products invented under Jobs' reign to sell services tailored for the more than 1.3 billion devices now powered by the company's software.

Jobs remained mercurial when he returned to Apple, but he had also become more thoughtful and adept at spotting talent that would help him create a revolutionary innovation factory.

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