Apple just became the first $1 trillion public company

Sales of the Apple iPhone have transformed the business over the past decade

Apple hit the US$1 trillion mark when its shares reached an all-time high of US$207.05 around midday in NY (4am NZT).

The stock has been rising since Tuesday when it reported better than expected results for the three months to June.

Apple first listed in 1980 and its stock has risen more than 50,000% since then.

Before the release of the iPhone, Apple was reporting revenue of less than $20bn and profits of less than $2bn from the sale of its Mac personal computers in 2006. "We believe that even without margin expansion in core retail, the other businesses can drive significant profit growth over the coming years and will make Amazon the first trillion-dollar company", he said in a recent note to clients. Here's a look at the so-calls "Fangs", tech firms that are growing at a quick pace; Amazon, is trailing at $885 billion, Google is at $850 billion, Facebook is at $503 billion, and Netflix is at $148 billion.

"Apple went from hip to has-been in just 19 years", wrote the publication at the time.

U.S. states make last-minute legal bid to halt 3-D online guns
Gun control groups on Friday failed to convince a federal judge to intervene before the designs were expected to go online. He says 3D-printed guns present a real and present danger because they're both unregulated and untraceable.

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

Apple has been hovering just below a market capitalization, or valuation, of $1 trillion for a while now, but a strong showing in its third quarter earnings pushed shares upwards today.

It turns out that the high-priced iPhone X didn't turn off customers (unit sales were essentially flat year-over-year) as much as it raised the company's overall average selling prices. It now accounts for 4 percent of the S&P 500. Apple said it now has 4.83 billion shares outstanding.

For one thing, the marketing guru behind the success of the Macintosh computer wishes he hadn't turned down an offer from founder Steve Jobs to return to Apple. Stock buybacks reduce the number of shares a company has on the open market, driving up the price of the remaining shares.

The first company to ever be worth $1 trillion was Petrochina, which reached the valuation briefly on its first day of trading, following its 2007 IPO. Therefore, Apple still needs to grow further in a bid to become the world's most valuable company in history.

Related News:

  • Max Meyer: Crystal Palace sign Germany midfielder from Schalke

    Max Meyer: Crystal Palace sign Germany midfielder from Schalke

    Meyer has also received a healthy signing on bonus as part of the deal and will meet up with his new teammates this week. The Guardian reports that the German has held "positive talks" over a move to Selhurst Park after leaving Schalke .
    Engine flaw delays Boeing test of crew capsule to 2019

    Engine flaw delays Boeing test of crew capsule to 2019

    Initially Congress did not provide as much money as NASA requested because of skepticism that the program would succeed. The crewed test flights were also supposed to take place this year - Boeing's in November and SpaceX's in December.
    White House asserts 'vast' effort to protect elections

    White House asserts 'vast' effort to protect elections

    President Donald Trump was strongly criticised last month for not condemning alleged Russian actions, while he was in Helsinki. Mr Coats said: "Our focus here today is simply to tell the American people we acknowledge the threat".
  • Kohli scores his first Test century in England

    Kohli scores his first Test century in England

    Yes, he was dropped twice but that does not take away from the fact Edgbaston got to witness a master at work. Murali Vijay and Shikhar Dhawan looked at ease as they got to 50 without breaking much of a sweat.
    Trump's backing puts new twist on Florida governor's race

    Trump's backing puts new twist on Florida governor's race

    And a Tampa Bay Times reporter said the same. "People ask me why I think I can prevail against Mr Trump ", Avenatti wrote. He's made countless stops around the state, running a traditional grassroots campaign with a focus on Florida issues.
    Jordan army clashes with Islamic State militants fleeing Syrian forces

    Jordan army clashes with Islamic State militants fleeing Syrian forces

    Israeli soldiers patrol the cease-fire line between Israel and Syria, as seen from the Israeli-occupied Golan Heights. Most of the Golan Heights have been occupied by Israel since the 1967 war.
  • Donald Trump Issues Another 'Thank You' To Dictator Kim Jong Un

    Donald Trump Issues Another 'Thank You' To Dictator Kim Jong Un

    The U.S. military flew the remains from Osan Air Base in South Korea after they had undergone an initial field forensic review. Byrd said the process to fully identify the remains, now more than 60 years old, could take anywhere from days to decades.
    Public housing becomes smokefree under new policy

    Public housing becomes smokefree under new policy

    HUD wants to reduce exposure to unsafe secondhand smoke, and encourage its tenants to drop the carcinogenic habit. HUD announced in November 2016 that all federally-owned public housing must be smokefree by July 30, 2018.
    Federal judge blocks release of plans for 3D-printed guns

    Federal judge blocks release of plans for 3D-printed guns

    The blueprints for 3D printed guns have been available online for years now, mostly in the deep recesses of the dark web. The states sought a restraining order and an injunction to block the gun info from being posted on the internet.
  • At meeting, Donald Trump praises Italy's immigration policies

    At meeting, Donald Trump praises Italy's immigration policies

    As such, the president of the association Roberto Moncalvo praised Conte's will to raise the issue during talks with Trump. The pair also brushed over differences over Iran, where sanctions have hurt Italian-Iranian commercial relations.
    Ford government announces social assistance overhaul

    Ford government announces social assistance overhaul

    When pressed on why the program was being cancelled, MacLeod responded only that it was not going to be sustainable. Earlier this week, she said it would continue in August, but Thursday said payouts would extend into September.

    China Says U.S. Trade Pressure Won’t Work

    The news about tariffs for China appeared shortly before the start of the negotiations round between the major world economies. China has already warned it would retaliate if the U.S. went ahead with the plan, accusing Washington of blackmail.


Most liked

Murray 'starting from scratch' in Washington
But Murray clinched a second, and decisive, break in the ninth game of the set and held on to level the match at one set apiece. If I win a couple of matches here, I could move up 300, 400 spots in a week, which is nice.

Swedish crown jewels stolen from cathedral before…
The crown jewels of Charles IX and his wife Christina were buried with them upon their deaths in 1611 and 1625 respectively. There has been no confirmation from the police, but the assumption is that the thieves smashed the glass.

Trump Administration Rolls Back Fuel Economy Standards For Cars
The states that have adopted California's emission rules together make up about one third of the USA auto market. Marsha Blackburn, R-Tenn., speaks at a rally in Nashville, Tenn. on May 29, 2018.

Thousands of firefighters struggle to contain giant blazes in California
As many as 38,000 residents were under evacuation orders at the height of the fire late last week. It is believed to be in the top 10 on the list of most destructive fires in the state's history.

Reddit data breach exposes the login credentials of accounts created in 2007
According to the information published, the data accessed is not recent and refers to the years between 2005 and 2007. In what one can only assume is a PR move, Reddit is refusing to publicly reveal the extent of the data breach .

Trade threats unnerve global markets
Mr Trump has ultimately threatened tariffs on more than $US500bn in Chinese goods, covering virtually all U.S. imports from China. China says the United States is trying to stop the rise of a competitor and it has imposed its own tariffs on US goods.

White House Repeatedly Refuses To Say Journos Aren't 'Enemy Of The People'
But he told Sanders that "the president of the United States should not refer to us as the enemy of the American people ". He made it particularly easy for Sanders to say what had been clear to the country in less authoritarian times.

Homebuyers’ pain as Bank nudges loan rate up to 0.75%
One of them (a private sector bank) is mired in a huge controversy relating to governance and conflict of interest. The Reserve Bank of India (RBI) on Wednesday announced a 25 basis points hike in repo rate to 6.5 per cent.

Apple officially becomes the first $1 trillion company
But this isn't another tale of Apple's impossible-to-believe profit power, because Apple isn't the powerhouse that it used to be. Since its inception, the company has launched 18 different iPhones with over 1.2 billion devices sold.

Horribly Ironic Urban Meyer T-Shirt Sell Out Mere Hours After Getting Suspended
Ohio State opens preseason camp Friday without knowing who will lead the team September 1 against Oregon State. Courtney Smith claims her ex-husband shoved her against a wall with his hands around her neck.

France shocked by video of woman being slapped by harasser
These men who think everything's allowed in the street, who humiliate us and who can not stand being offended, it's unacceptable. In security camera footage from a nearby café, he can then be seen hitting her in the face before running away.

Black Ops 4 Blackout Beta Coming in September
Besides Activision clearly mentioned that PS4 and Xbox will feature " Private Beta " for Call of Duty Black Ops 4 BETA . Call of Duty: Black Ops 4 releases October 12 for Xbox One , PS4 and PC exclusively on the Battle.net launcher.

Bryson DeChambeau apologizes for actions following European Open loss
It was a rollercoaster ride big time today, but I fought hard, I believed and even at the last I [gave] myself the best... Reed began round four one shot off the lead but returned a closing 4-over 76 to drop to equal ninth.

Chipotle closes restaurant after illnesses reported
It was trading down close to 2 percent in pre-market movement Tuesday and slipped as much as 9 percent during the day. That news also surfaced through iwaspoisoned.com when 89 reports and 133 customers reported falling sick.

Force India in administration: 3 teams oppose takeover
But one of the creditors had already prepared a petition, and if it was filed, the team would simply be closed. Force India went into administration following a High Court hearing in London on Friday evening.