Apple is about to become the world's first trillion dollar company

Apple trillion dollar

Apple trillion dollar

Tech giant Apple has become the first United States company to top $1 trillion in market value. The gains came after the iPhone maker reported strong earnings late Tuesday that prompted a two-day rally in the share price.

Adjusting for four stock splits over the years, Apple debuted on the stock market for the equivalent of 39 cents a share on Dec 12, 1980, compared to Thursday's high of US$207.05. In recent years, Apple has been working to spread its cult-like following to newer devices like smart watches, cordless headphones and smart home speakers.

"The organic growth of these so-called steady-eddie companies is nowhere near that of Apple", [Cramer] said of the consumer packaged goods plays. The company also boosted its revenue from services, including Apple Music and the app store. That put Apple on a path to overtake Exxon Mobil in 2011 as the largest USA company by market value.

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The military has ruled Pakistan through various coups for almost half of the country's history since independence in 1947. The PPP managed to maintain its stronghold in the Sindh Assembly and should lead the provincial government.

Apple beat other Silicon Valley rivals including Amazon, Microsoft and Facebook to become the first to hit the $1 trillion valuation. The state-controlled oil firm is now valued at less than $500 billion and is smaller than Chinese tech giant Alibaba. A company's market value is calculated by multiplying its current share price by the total number of shares investors hold.

Apple shares rose 2.7% today and they're up 22% so far this year. Amazon has the second-largest United States market cap as of Wednesday, at roughly $872.5 billion.

Wall Street reacted enthusiastically, driving up the stock. Analysts polled by Bloomberg have an average price target of $212.79, which would translate to a market cap of $1.046 trillion.

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