Apple is first public company worth $1 trillion


Tech giant Apple has become the first U.S. company to top $1 trillion in market value.

Apple has become the world's first $1 trillion ($1,000,000,000,000) company.

Since the sale of the first iPhone in 2007, shares of Apple have experienced an astonishing growth of 1,100% and a mammoth 50,000% since the company first listed itself on the stock market in 1980. Those earnings beat Wall Street expectations on the top and bottom lines, but iPhone sales fell slightly short.

In this April 30, 2015, file photo, Apple CEO Tim Cook responds to a question during a news conference at IBM Watson headquarters, in NY. That would value Apple at $1.3 trillion (₱69.1 trillion).

As the co-founder of one of the world's most successful companies, his is one of the most recognised names in the world of tech.

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The consumer technology giant briefly touched the milestone, buoyed by a stronger than expected earnings report for the second quarter on Tuesday, according to a report by Fortune.

He added: "You can't connect the dots looking forward; you can only connect them looking backward". But let's not overstate the case; with 56% of revenue coming from iPhones last quarter, Apple is still a handset company.

Trip Miller, managing partner at Gullane Capital LLC in Memphis, said Apple "should trade much higher".

Apple hit the $1tn (£767bn) mark after publishing shares which brought the value of the company up from $935bn.

It is selling fewer iPhones, but by releasing a more expensive version past year, it is making more money per device.

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Adjusted for inflation, numerous United States companies from General Electric to Microsoft have been worth more than Apple is today.

By 1997, the company had fallen on hard times and shares were worth just a few dollars.

The market reacted to this success and the price of Apple stocks increased.

And while online pre-orders and global product releases have whittled down the long, colorful queues at Apple shops on iPhone launch days, throngs still make pilgrimages to lay hands on devices.

A year ago its sales hit $229bn, with profits of $48.4bn, making it the most profitable listed USA company.

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Apple is the first US company to hit the $1T milestone; here's why AAPL shares can climb even higher.