Financial fruit: Apple becomes first trillion-dollar publicly-traded company


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.

Apple just became the first American public company to cross $1 trillion (₱53.1 trillion) in value.

Apple, Amazon, Google, and Facebook are, as critic and NYU marketing professor Scott Galloway has dramatically put it, "our new gods, our new source of love, our consumptive gods", and they must be confronted and controlled by their worshippers - us. I think the best way to look at this market is that there will soon be only two major players, Amazon and Microsoft, and then a bunch of smaller players.

Amazon is still a distant second if you take into consideration the next two companies in the upper echelon of the United States market cap ladder: Google parent Alphabet and Microsoft are both breathing down Amazon's neck, with valuations of $852.73 billion and $822.78 billion, respectively.

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Apple, which has seen its stock surge more than 50,000% since its stock market listing in 1980, has struggled to produce a product that replicates the success of the iPhone.

Let's take this moment to thank our customers, our suppliers and business partners, the Apple developer community, our coworkers and all those who came before us at this remarkable company. There's no fundamental difference between Apple being worth $999 billion and $1.01 trillion. Stock in the technology company reached the huge number during trading on Thursday.

PetroChina, the world's fourth biggest oil company by revenue, was the first company to pass the $1tn mark in 2007.

October 2011: Jobs, 56, dies after battling pancreatic cancer, having turned over command of Apple to Tim Cook earlier in the year.

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The feat has of course been a race because the stock market's top 10 is now dominated by tech companies, with Amazon topping $900 billion in market cap and Google and Microsoft worth more than $800 billion.

Apple generates billions from hardware sales: It had $29.9 billion in iPhone sales, up 20% year over year, for the June 30 quarter.

But Cook has gradually won accolades from investors by pumping out a series of solid financial results and further spreading Apple's products to China and other foreign markets.

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