Wednesday, 12 December, 2018

Apple hits $1,000,000,000,000

| 02 August, 2018, 20:07

Apple on Thursday become the first U.S. company to be worth more than $1 trillion on a public stock market.

Apple hit the $1 trillion mark when its shares reached an all-time high of $207.05 around midday in NY.

For context, passing the $1 trillion mark means Apple now has a value greater than the gross domestic product (GDP) of all but 27 major countries, including Argentina, the Netherlands, Sweden and Switzerland, according to the CIA's world fact book.

That would put Apple's stock market value at $973 billion, based on its newly disclosed number of shares.


In 2006, the year before the iPhone launch, Apple generated less than $20 billion in sales and net profit just shy of $2 billion. The iPhone maker became the first company to reach this valuation.

The tech giant's market cap briefly hit $1 trillion dollar milestone Thursday morning before dropping slightly again. Analysts have said Apple needs a new smartphone to keep up the good sales, but the company passed the $1 trillion mark because of strong sales of the iPhone 8 and X in China and Japan.

A company's market cap is calculated by multiplying the number of shares outstanding by its stock's share price.

Shares surged after Apple reported earnings that topped forecasts and a healthy outlook on Wednesday. Twitter's market capitalization is $24B which is just a little more than the Apple buybacks last quarter (they bought back $23B in the 1st quarter and over $43B for the year).

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