Apple hits the $1T milestone

Apple hits the $1T milestone

Apple Inc became the first $1 trillion publicly listed US company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone.

The iPhone-maker's shares struck an all-time high of $207.05 during trading in NY, pushing its market capitalisation past the landmark trillion-dollar level to $1.02 trillion.

The tech company's stock jumped 2.8 percent to as high as $207.05, bringing its gain to about 9 percent since Tuesday when it reported June-quarter results above expectations and said it bought back $20 billion of its own shares.

On Thursday, August 2, USA time, the technology company and iPhone maker became the first American public company to cross $1 trillion in value.

July 2008: Apple launches the online App Store to sell applications for the iPhone and iPod Touch. There's no fundamental difference between Apple being worth $999 billion and $1.01 trillion.

If Apple hits a growth wall in coming years, it's not hard to imagine the company facing similar calls to justify its climbing research-and-development bills.

Extreme weather conditions in California could stoke wildfires
His main message focused on the devastation from wildfires seen across California that will only get "worse in the coming years". A new fire, being called the Eel Fire, is causing need for mandatory evacuations in Mendocino County as of Tuesday.

While Apple is the first company to hit the trillion dollar mark, it is likely to be followed by Alphabet, Amazon and Microsoft. If the company continues to buy back its shares, the $207.05 price will rise.

Speaking to CNBC, Dan Ives, an analyst with GHB Insights, pointed toward the milestone as a marker for even better things to come.

USA tech companies have cemented their position in the broader market, now making up the top 5 most valuable enterprises based on share prices. Apple sits atop a USA stock market that has become dominated by technology-centered companies: Amazon, Google's parent Alphabet, Microsoft and Facebook round out the top five in market value. Shares of Apple this week traded at about 15 times expected earnings, compared to Amazon at 82 times earnings and Microsoft at 25 times earnings.

Gold prices inched downward after Fed's upbeat assessment of the economy to the lowest price in more than a year as the dollar, which typically has an inverse relationship with gold, rose. Companies typically do so when they consider their stock to be undervalued-or to return funding to investors. They probably wouldn't have been possible without Apple's partnerships with manufacturers in China, which have allowed the company to make billions of devices while keeping tight control over its products and making them affordable for consumers.

Mr Jobs remained mercurial when he returned to Apple but he had also become more thoughtful and adept at spotting talent that would help him create a revolutionary innovation factory.

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