Apple reaches new landmark with $1 trillion valuation


Let's keep in mind that Canada was established as a nation way back in 1867 and Apple has only been around since 1976 when co-founder Steve Jobs started running the company in his garage.

On Wednesday, the iPhone maker's shares breached the $200 mark; Reuters reported that it needed a share price of $206.49 to achieve the unprecedented mark. The surge in its shares has been driven by two key factors. Amason is also trailing Apple, but is seeing higher profits than previously expected, while Google's parent company Alphabet is resting at $845 billion.

KitGuru Says: Obviously, Apple doesn't have $1 trillion in cash just lying around, but the company is worth that much based on the number of shares available and how much each one costs. A company's market value is calculated by multiplying its current share price by the total number of shares investors hold.

The feat has of course been a race because the stock market's top 10 is now dominated by tech companies, with Amazon topping $900 billion in market cap and Google and Microsoft worth more than $800 billion.

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Since the iPhone first went public in 2007, Apple shares have grown 1,100 percent.

Adjusting for four stock splits over the years, Apple debuted on the stock market for the equivalent of 39 cents a share on December 12, 1980, compared with Thursday's high of $208.38.

Jobs remained mercurial when he returned to Apple, but he had also become more thoughtful and adept at spotting talent that would help him create a revolutionary innovation factory.

Dark horses, they were considered. That was Chinese oil and gas giant PetroChina, which briefly topped $1 trillion in market value with its IPO in 2007, before the share price declined. But he said it should not be the Cupertino, California, company's focus. But in the context of history, by which I mean, when adjusting for inflation, Apple barely rates alongside some of the corporate giants of the past. That wealth creation exceeds the current market value of every publicly traded USA company except Amazon, Microsoft and Google's parent, Alphabet. And it has a vote of confidence from some analysts. This showed a growth of 17 percent year-over-year for the company despite a decrease in Mac sales and a generally flat sale rate of iPads. Hindustan Times delivers the news across all social media platforms, on the web, and at your doorstep.