Apple briefly becomes the first $1 trillion US company

Apple briefly becomes the first $1 trillion US company

Apple (AAPL, $201.50) became the first American company to become worth more than $1 trillion when it hit $207.05 per share in intraday trading on Thursday, Aug. 2.

"Apple is set to be the first company in USA history to cross the $1 trillion threshold in market capitalisation after announcing strong earnings for its "slow" June quarter. and giving an upbeat revenue forecast for the current quarter at $60-$62 billion, which is above Wall Street's consensus", Jean Baptiste Su, vice-president and principal analyst at Atherton Research, wrote on Forbes. But that peak coincided with a Chinese stock-market bubble, and PetroChina's shares would lose $800 billion in value over the next 10 years.

One of those is Canada, but Apple isn't that far behind us now. Amason is also trailing Apple, but is seeing higher profits than previously expected, while Google's parent company Alphabet is resting at $845 billion.

Originally founded as a maker of computers in 1976, Apple expanded to dozens of product categories in the 1990s, many of which were unsuccessful.

3D-Printed Guns Blocked--For Now! We React | Fast Company
By Monday, the site showed more than 12,000 downloads of seven gun models. "I think this is much to do about nothing on that gun". The guns (including AR-15 style-rifles) can be created using a 3D printer, sparking outrage amongst gun control groups.

The ubiquitous iPhone has fuelled Apple Inc's astronomic rise over the years, accounting for a bulk of the company's revenues. It now accounts for 4 percent of the S&P 500.

But given Apple's fundamentals and its reasonable valuation, the trillion-dollar market cap looks a lot more like a milestone than it does a wall.

Apple generates billions from hardware sales: It had $29.9 billion in iPhone sales, up 20% year over year, for the June 30 quarter. The tech giant had relatively flat iPhone sales but increased its revenue thanks largely to higher-priced models including the iPhone X, with a list price of just under $1,000. Depending on who is doing calculations, the valuation of Saudi Aramco state-controlled oil and gas company is between $1.2 billion and $1.5 billion.

Adjusting for four stock splits over the years, Apple debuted on the stock market for the equivalent of 39 cents a share on December 12, 1980, compared with Thursday's high of $208.38. After launching the iPhone - arguably its most famous product - in 2007, Apple now churns out over 40 million of the devices every quarter, helping it rake in $254.63 billion in revenue previous year.

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