Apple has become the world's first trillion dollar company

Apple becomes first $1 trillion publicly listed US firm

Apple on Thursday become the first United States company worth more than $1 trillion on a public stock market.

The Silicon Valley stalwart's stock has surged more than 50,000 percent since its 1980 initial public offering, dwarfing the S&P 500's approximately 2,000 percent increase during the same nearly four decades.

Today Apple Inc. surpassed the $1 trillion dollar mark in value, showing once again that it is the dominant force when it comes all the companies out there today.

The tech titan on Thursday became the first company in the world to reach a $1 trillion valuation.

Apple's huge growth, is largely thanks to the introduction of its portable devices, in 2001, when the iPod was launched the firm was valued at just $6 billion, this propelled the firm to $106 billion by the time iPhone was introduced.

But think for a moment about how Apple got so big.

The achievement seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1, on a split-adjusted basis., and its market value dropping below $2 billion.

Samsung Electronics reports lower-than-expected profit - 7/30/2018 7:57:07 PM
Samsung said sales of Galaxy S9 smartphones slowed while its flagship memory chip business continued to post a robust result. Samsung said it expected "growing demand for flexible OLED panels to drive earnings higher in the second half" of the year.

But there's no law against a company being worth more than $1 trillion. And good luck arguing that Tim Cook, who has basically been running Apple since 2009, has been a poor steward given that the stock is up some 2,000 percent since then.

He took over after the death of founder Steve Jobs, who was identified with launching many of Apple's most iconic products, including the iPhone smartphone and the iPad tablet. Recently, some of his older clients have bought Apple shares for their grandchildren.

Steve Jobs and a few other people created Apple 42 years ago in Cupertino, California.

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.

Independent technology analyst Rob Enderle said Apple's trillion-dollar valuation defied financial trends in recent quarters and potential defeat in a legal battle with Qualcomm over mobile chips.

In fact, Amazon, Alphabet, and Microsoft could soon be joining Apple over the $1 trillion threshold - currently, they're worth $886 billion, $844 billion, and $825 billion respectively.

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