Apple Makes History As The World's First $1 Trillion Company

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Apple last night became the first American company to reach a stock market valuation of $1 trillion, two decades after it was on the edge of bankruptcy.

Some anti-tech activists will nearly surely use the historic achievement as further evidence that the tech titans need to be shackled with regulation or broken up into more manageable pieces.

At press time Apple's stock cost $206.90 and its market capitalization was $1.017 trillion.

Apple has sold more than a billion iPhones. Although Apple is the first to do so, Google's parent company Alphabet, Microsoft, and Amazon all have genuine chances at reaching a $1 trillion market capitalization.

Google-owner Alphabet's stock has risen 32 percent over the past 12 months, and is up almost 18 percent in 2018.

The company has managed to notch higher revenues, even when iPhone sales fall shy of expectations due to a trend of Apple making more money off each handset.

The positive results and the steadily climbing stock prices can take the market cap of Amazon beyond the $1 Trillion mark in the next few weeks if not days. Its shares trade at less than 16 times earnings estimates for the next 12 months, according to Morgan, who said he would be comfortable with a multiple of 18 or 19 for the stock.

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Apple still looks relatively cheap even with a trillion dollar valuation.

The iPhone maker was named as the only publicly listed United States company to be valued at $1,000,000,000,000 just before 5pm this afternoon.

It is a market development that has been in the pipeline for well over a year.

Tim Cook thinks that, while it is a milestone for Apple, it is "not the most important measure of our success".

Apple generates billions from hardware sales: It had $29.9 billion in iPhone sales, up 20% year over year, for the June 30 quarter. Mr Jobs passed away in 2011 and his legacy lives on in every Apple product.

The outspoken star believes he is "undoubtedly" one of the most influential people in the world and likened himself to Jobs because of his power in the music and fashion industries. That wealth creation exceeds the current market value of every publicly traded USA company except Amazon, Microsoft and Google's parent, Alphabet.

Originally founded as a maker of computers in 1976, Apple expanded to dozens of product categories in the 1990s, many of which were unsuccessful.

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