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Tim Cook on $1 trillion valuation: Keep your eye on the ball

04 August, 2018, 14:15 | Author: Melinda Barton
  • Business Insider  Andy Kiersz data from Bloomberg

The company's stock price closed at $207.39 on Thursday following the earnings report, making Apple the first-ever, publicly traded US company to reach a $1 trillion market cap.

Whether or not Apple can retain this market cap - or close to it - in the long run remains to be seen.

Apple has sold more than a billion iPhones since the first model was unveiled by Jobs in 2007. Revenues like that are the reason that Apple has managed to grow 50,000% since it listed in 1980, while other firms on the S&P 500 have only grown 2,000% in the same timeframe.

Tech giant Apple has become the first USA company to top $1 trillion in market value. Alphabet Inc. (Nasdaq: GOOGL), Google's parent company, now holds a 52. It's since fallen slightly, but not enough to knock Apple back down into the billions.

With over 1 billion Apple devices in daily use, the traction this ecosystem provides ensures that the company will have dependable returns regardless of market conditions.

The company also boosted its revenue from services, including Apple Music and the app store.

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.


When it comes to the almost $1,000 iPhone X, Walkley notes that Apple is taking share from its primary premium-tier competitor Samsung.

The first company to hit $10 million in market capitalization had a 20 year charter to start, and was championed by Alexander Hamilton.

Daniel Morgan, portfolio manager at Synovus Trust in Atlanta, said Apple's lukewarm Friday was a temporary pause for the stock rather than a sign it could lose ground.

Amazon, Microsoft and Alphabet are in a tight race to become the second U.S. company to reach the $1 trillion milestone.

Apple, the company Steve Jobs and Steve Wozniak founded in 1976 in possibly not a garage, became the most valuable company in the world in 2012, passing Microsoft as iPhone sales pushed the company into the stratosphere. Now that is something we're not surprised out - they bring a new one out for every occasion.

Today Apple passed a significant milestone.

Perhaps there's some truth in that, but the fact is that Apple continues to refine its products in ways that customers like, while largely treating those customers with respect.

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