Apple becomes first US company to hit $1 Trillion value

Apple becomes first US company to hit $1 Trillion value

Apple becomes first US company to hit $1 Trillion value

This achievement is the evidence of Apple's long-standing dominance in the industry.

Some experts estimate the Saudi oil company could reach a total stock market value two times bigger than Apple's - at $2 trillion dollars.

It is selling fewer iPhones, but by releasing a more expensive version past year, it is making more money per device.

"If Apple trades at 20 times earnings that would be insane", he said, estimating that Apple shares could go as high as $220 by year-end.

As are Google and Microsoft, who are both valued at about $800 billion. The whole piece may seem pretty cringey in retrospect given Apple's subsequent revival, everything from the "The fall of an American icon" headline to predictions of irrelevance - "Apple has lost something it's unlikely to win back: the technology leadership that made the Macintosh so different from other computers".

Other companies have come close to the mark, but no public USA company has hit a $1 trillion valuation.

Apple also boasts the most popular smart watch on the market. The shares are up 22 per cent so far this year.

The race to a trillion dollar market race was viewed closely on Wall Street as insiders believed Amazon would be the first to reach the mark.

Naturally, the $1 trillion figure is constantly changing. Five of the 10 largest U.S. companies by market cap on Thursday were tech companies, including Amazon,Alphabet, and Facebook. Now that is something we're not surprised out - they bring a new one out for every occasion.

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.

I'm no Apple fanboy-I'm an old-school ThinkPad guy and I'll take the nice midrange Android phone with expandable storage, thanks-but there can be little argument now about the direction Cook chose to take.

"It is not just about inventing new products, it is about delivering more value to current products through services and apps that can deliver revenue", said analyst Milanesi. Apple has been the world's most valuable public company since 2012, when it was worth about half as much. By a year ago, its sales had grown more than 11-fold to $229 billion - the fourth highest in the S&P 500 .SPX - and net income had mushroomed at twice that rate to $48.4 billion, making it the most profitable publicly listed USA company.

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