Apple Becomes First Company to Reach $1 Trillion Worth

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Apple made history Thursday when it became the first publicly listed US company to be valued at $1 trillion. It became the first $900 billion company exactly nine months ago, on November 3, 2017.

Apple's stock hit a high of $207.05 per share in trading just before noon ET, putting it at the $1 trillion mark.

The stock has been rising since Tuesday when it reported better than expected results for the three months to June.

The Dow Jones Industrial Average slipped 7.66 points (0.03 per cent) to 25,326.16, while the broad-based S&P 500 rose 13.86 points (0.49 per cent to 2,827.22). Alphabet, the parent company of Google, is third at $863 billion.

Cook emphasized the company's innovation and principles make Apple one of the world's most valuable businesses. "We returned nearly $25 billion to investors through our capital return program during the quarter, including $20 billion in share repurchases". 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 a year ago.

That's a far cry from Apple becoming some kind of poky utility, however. The company owes its success to a number of new and novel products that not only revolutionized the technology industry but, in many ways, changed the entire world.

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Apple is the first company to reach the long sought-after $1 trillion market valuation, making it the first company on record to ever reach the mark. There's no fundamental difference between Apple being worth $999 billion and $1.01 trillion.

Apple's stock chart today, showing a market cap of $1 trillion.

Apple, which has seen its stock surge more than 50,000% since its stock market listing in 1980, has struggled to produce a product that replicates the success of the iPhone.

By 1997, the company had fallen on hard times and shares were worth just a few dollars. But the South Sea Company ($4 trillion), Saudi Aramco ($1.5 trillion), and others were also technically bigger than Apple is today.

In fact, Amazon, Alphabet, and Microsoft could soon be joining Apple over the $1 trillion threshold - currently, they're worth $886 billion, $844 billion, and $825 billion respectively.

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