Home » Money

Apple is about to become the world's first trillion dollar company

03 August, 2018, 08:02 | Author: Melinda Barton
  • Apple becomes world’s first private sector company worth $1 trillion

However, Apple has always looked the most likely victor, as I noted in June: Apple is close to becoming the first U.S. company worth $1 trillion. It became the first $900 billion company exactly nine months ago, on November 3, 2017.

A company's market cap is calculated by multiplying the number of shares outstanding by its stock's share price.

During the day, the share price of the iPhone maker jumped by 2.8% to $207.05, passing the $1tn (£762bn) mark in NY trading. His ignominious departure came after losing a power struggle with John Sculley, a former Pepsico executive who he recruited to become Apple's CEO in 1983 - seven years after he and his geeky friend Steve Wozniak teamed up to start the company with the administrative help of Ronald Wayne. The launch of the original iPhone was a turning point for Apple, and the relatively new iPhone X continued that trend, fueling a stock increase of more than 30-percent over the past year. Wall Street has been excited about the growing share of company revenue coming from its services segment, which includes app sales and Apple Music subscriptions.

Elsewhere, Saudi Aramco, the state-owned oil company of Saudi Arabia, has reportedly been eyeing a public offering that could value it near $2 trillion, but a potential listing has been mired in delays. Amazon, Google parent Alphabet and Microsoft have all watched their fortunes rise - and investors have watched closely to see which would hit $1 trillion first.

While Apple should do well in the near future, it is also true that share prices can go down as well as up.


While the thirteen digits don't lie, BusinessWeek's 1996 assessment of Apple wasn't that far-fetched. There's no fundamental difference between Apple being worth $999 billion and $1.01 trillion.

With this historic valuation, Apple beats its closest market cap-competitor Amazon in the race to $1 trillion. Amazon is worth almost $900 billion while Google and Microsoft are each now worth more than $800 billion.

"Apple takes confidentiality and the protection of our intellectual property very seriously", the company said in response to an AFP query about the case.

And just for good measure, Apple repurchased $20 billion in stock during the quarter - $10 billion under its new $100 billion buyback program, and $10 billion under its prior authorization.

Recommended:

  • ESPN's Paul Finebaum on what's next for Urban Meyer

    ESPN's Paul Finebaum on what's next for Urban Meyer

    Meyer said in a statement that he and athletic director Gene Smith agreed that him going on leave was best for the investigation. The case was dropped by police when the woman chose not to pursue charges, but Hyde was suspended three games by Ohio State.
    Bottas and Wolff clarify ‘wingman’ comments

    Bottas and Wolff clarify ‘wingman’ comments

    Lewis Hamilton got the best possible start to his summer holiday by claiming victory in the Hungarian Grand Prix on Sunday. But with his negotiations with Red Bull continuing to drag on, Ferarri's interest could be reignited.
    Hey, idiots! Stop jumping out of moving cars while dancing to Drake

    Hey, idiots! Stop jumping out of moving cars while dancing to Drake

    Norwood claims he meant to jump onto the hood of the oncoming vehicle and continue dancing before he lost his footing. The dance trend is basically someone dancing to Drake's single " In My Feelings " alongside a slow-moving vehicle .
  • Pompeo Outlines Strategy to Boost Indo-Pacific Economies

    Pompeo Outlines Strategy to Boost Indo-Pacific Economies

    Pompeo said he would visit Malaysia, Singapore and Indonesia this week, where he planned to announce new security assistance. The announcement comes at a time when trade frictions with China have given United States trade diplomacy a sharper edge.
    North Korea appears to be building one or two ICBMs

    North Korea appears to be building one or two ICBMs

    Trump has since said Kim is willing to give up his nukes , but signals from the secretive nation have been mixed. In recent months, USA agencies have raised their estimates of the size of North Korea's nuclear arsenal.
    Imran Khan’s party is considering inviting PM Modi for oath-taking ceremony

    Imran Khan’s party is considering inviting PM Modi for oath-taking ceremony

    The poll has been marred by long delays in counting and complaints of rigging by the Pakistan Muslim League-Nawaz (PML-N) party. In Pakistan, which is on the cusp of having only its second peaceful civilian transfer of power, that doesn't usually happen.
  • Expected star witness may not testify in Trump ex-aide Manafort's trial

    Expected star witness may not testify in Trump ex-aide Manafort's trial

    He said he would not tolerate any pictures of Manafort and others "at a cocktail party with scantily clad women", if they exist. He warned jurors not to believe Gates when he testifies against Manafort. "That's what Rick Gates was being paid to do".
    Horn shark stolen from San Antonio Aquarium in baby pram returned

    Horn shark stolen from San Antonio Aquarium in baby pram returned

    The shark was valued at approximately $2,000. "He had had one of these in the past. obviously he likes those types of animals". Surveillance video shows one man reach into the pool, wrap the 1-year-old shark in a wet blanket and put her in a stroller .
    Nelson Chamisa claims MDC has done well, Mnangagwa equally upbeat

    Nelson Chamisa claims MDC has done well, Mnangagwa equally upbeat

    Elmar Brok, the EU's chief observer, said many voters, particularly young women, left voting queues in frustration at long delays. Several global observers said the voting process had been slow at some stations, but it did not appear to them to be intentional.
  • Kohli keeps India in test

    Kohli keeps India in test

    It was the second time in the match that Ashwin had dismissed Cook, England's all-time leading Test run-scorer, in such a manner. The wicket of Alastair Cook in the last over of the day means no other batsman will have to come out to bat today.
    Don’t call dolphin hybrid spotted off Hawaii a ’wholphin’

    Don’t call dolphin hybrid spotted off Hawaii a ’wholphin’

    Kimberly A Wood/Cascadia Research The hybrid is in the front, with the melon-headed whale that researchers suspect is the mother. Baird continued to explain that the "morphological appearance" of the animal promoted researchers to get a biopsy sample.
    South Africa Overturns Diplomatic Immunity For Grace Mugabe

    South Africa Overturns Diplomatic Immunity For Grace Mugabe

    Ms Engels needed 14 stitches to her head after allegedly being set upon by Mrs Mugabe who was wielding an electrical extension... He said there were worldwide treaties that can be relied upon to ensure that Mugabe returns to South Africa to face charges.


Popular

Trump chief of staff says he will stay at Trump's request
Kelly has often joked publicly about how working for Trump is the hardest job he's ever had, including those on the battlefield. Kelly falling out of favor with the president, suffering a deteriorating role in the White House and looking to the exit.

Zimbabwe's ruling party ZANU-PF wins majority seats in parliament
Protesters surrounded vehicles belonging to the observer missions as they passed through downtown Harare. Mnangagwa ordered the MDC Alliance leadership to remove its violent supporters from the streets.

Trump administration sanctions Turkish officials over detained American pastor
Treasury announced sanctions Wednesday against the Turkish government in response to the detention of an American minister there. US State Department spokeswoman Heather Nauert has also called the detention "unjust", adding, "Turkey knows our position well.

Promoting voter ID, Trump says ID needed to buy groceries
See a sampling of the Twitter reactions to Trump groceries comment below. "We have to make sure Rick Scott wins, and wins big". The AP noted that "it's unclear when the president last purchased groceries or anything else himself".

Malaysian woman among 10 killed in strong quake jolting Indonesia island Lombok
Indonesia is located on the geologically active Pacific Ring of Fire and regularly experiences earthquakes and volcanic activity. President Joko Widodo visited the affected site on Monday and promised financial support for people who had lost their homes.

Apple enjoys its fourth straight quarter of revenue growth in Q2 2018
Apple is well on its way to crossing a historic milestone and becoming the first company ever with a $1 trillion dollar valuation. Cook told analysts that Apple is on track to meet a goal of doubling Services revenue by 2020.

Senate panel scrutinizes Trump officials over family separation
He said that needed border security reforms included the wall, the visa lottery, catch-and-release policies, and immigration laws. McConnell, asked about a shutdown during a radio interview in Kentucky, said it was not going to happen.

Jose Mourinho: This is the flawless habitat for young players
The Red Devils boss is targeting Leicester's Harry Maguire, as well as Inter Milan's Ivan Perisic and Chelsea's Willian. And Mourinho is angry at United's failure to deliver all the transfer targets he identified at the start of the summer.

How to watch the July 2018 "blood moon" online
But, while there was a spectacular sunrise, the eclipsed moon disappeared behind low cloud at the crucial moment in Christchurch. EarthSky .org has a map showing more exact locations, and TimeandDate.com has timings based on your location.

Newcastle agree on deal with Japan striker Yoshinori Muto
He has done well in the Bundesliga, so we're talking about a striker that's doing well in the last few years at worldwide level". The move comes mere hours after Newcastle announced the signing of Swiss global , Fabian Schär, from Deportivo La Coruña.