Home » Money

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.



Remains of Korean War Dead Arrive in Hawaii
The identification process could take several years depending on the condition of the remains, Reuters reported . Defence Secretary Jim Mattis has said some remains could turn out to be those of missing from other nations.

Romelu Lukaku Defends ‘Cool’ Jose Mourinho Amid Criticism
So it's only natural that a potential Martial for Jerome Boateng swap deal narrative would gain traction in the silly season. A friend of Manchester United midfielder Nemanja Matic has revealed that the midfielder used to be a Liverpool fan.

Tax-Free Weekend in Texas Is Coming Up
As back to school shopping starts up, state sales tax is dropping off some items. Retailers can not collect sales or use tax during the days on qualifying items.

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.

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.

Jerry Brown: Fire-Fueling Heat Worse Than 'Since Civilization Emerged'
The Mendocino Complex Fire is a combined 80,408 acres as of Tuesday night, and is made up of the Ranch and River fires . It is now the sixth most destructive wildfire in California history and is threatening another 1,600 homes.

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.

Judge blocks release of 3D-printed gun plans
After a years-long court battle, the state department in late June settled the case against Defense Distributed. On issue after issue, the Trump administration's M.O. when there's a crisis is to say, 'We'll look into it.

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.