Economy

Apple Becomes First Public Trillion Dollar Company; Beats Amazon, Microsoft, And Google

Apple Becomes First Public Trillion Dollar Company; Beats Amazon, Microsoft, And Google

Apple has just won the race to be the first one trillion dollars publicly traded tech company after it's share price passed $207.04 a share today.

The answer is nearly certainly yes. The company reached the milestone today when its stock exceeded $207.04 per share, ultimately reaching an all-time high of more than $208. The first trillion-dollar company in the world was Petrochina, albeit briefly, when it first floated back in 2007 (and before it lost $800 billion in value over the next decade.) For comparison's sake, Amazon is worth $877 billion, Alphabet $851 billion and Microsoft $822 billion. According to investors, Apple's shares needed to be at $203.45 to push the company into the Trillion Dollar valuation.

But not all companies get big that way.

The first company to hit $100 million in market capitalization was a crucial railroad that connected New York City, Chicago, Boston, and St. Louis.

"The $1 trillion mark is more psychological, and sends a message of growth and size into the market", said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

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Neowin mentioned a few days ago that Apple was likely to pass the $1 trillion threshold thanks to the huge $53.3 billion in revenues it made in the last quarter. Cook is celebratory in his reaction to the news, but reminds his team that a share price is "not the most important measure of our success".

But the phenomenal success of the iPhone led competitors to mirror certain features like touch-screens featuring rows of colorful icons - and prompted Apple to pursue those competitors in court.

In the firm's posted financial results for the fiscal 2018 third quarter, Apple revealed a 17% increased quarterly revenue from past year of $53.3 billion and 40% higher quarterly earnings per diluted share of $2.34. Not only did the Cupertino-company surpass its own projections, but also the estimations of analysts. "Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline".

Rises in services revenue have come with jumps in Apple Pay, Apple Music and other programs.

"And Apple really delivered when it announced second-quarter 2018 earnings on May 1".

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Higher average selling prices equal higher profit margins, by the way.

This is a breaking news story that is being updated by our reporters.

True, Apple's earnings growth rate is slowing down.

That's a far cry from Apple becoming some kind of poky utility, however.

However, there's was a bit of excitement leading up to this milestone: the number of its shares, which is arguably the main player in all these. Stocks in general will, of course, have to cooperate.

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