Apple beats tech rivals to the $1 trillion mark

BANGKOK THAILAND- 2018/07/30 An iPhone displays the Apple logo with a background of a market value increasing on the stock exchange behind

BANGKOK THAILAND- 2018/07/30 An iPhone displays the Apple logo with a background of a market value increasing on the stock exchange behind

In early morning trading on Thursday Apple's stock jumped 2.8 percent and sent the company over a magic hurdle as it became the world's first private-sector publicly traded company with a market value of $1 trillion.

Even with its $1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive.

It doesn't come as a complete surprise that Apple was first to reach the mark and though I'm not a big fan of Apple it's hard to deny the impact they have had on technology over the last 20 years.

Apple just became the first American public company to cross $1 trillion in value.

Traders said prices rallied when industry information provider Genscape reported crude inventories at Cushing, Oklahoma, delivery hub for USA crude, dropped 1.1 million barrels since Friday, July 27. Amason is also trailing Apple, but is seeing higher profits than previously expected, while Google's parent company Alphabet is resting at $845 billion.

As mighty as Apple may seem now, economic and cultural forces can quickly shift the corporate pecking order.

Canaccord Genuity analyst T. Michael Walkley, who rates AAPL stock at "Buy", writes that iPhone sales continue to defy his expectations.

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"What's remarkable about Apple is not so much its stock price as the amount of money that it makes", said Chris Brightman, chief investment officer of Research Affiliates, an institutional investor with more than $200 billion under management.

June 2015: Apple Music streaming service launches including internet radio from Beats, a startup Apple bought the prior year in a deal valued at $3 billion.

"Our strong business performance drove revenue growth in each of our geographic segments", said Luca Maestri, Apple's CFO.

Higher average selling prices equal higher profit margins, by the way.

Investors are also keenly awaiting a major iPhone overhaul this fall that will include the largest screen size to date and a cheaper model that includes numerous iPhone X's features.

Apple, which has seen its stock surge more than 50,000% since its stock market listing in 1980, has struggled to produce a product that replicates the success of the iPhone.

"Our view on tariffs is they show up as a tax on the consumer and wind up resulting in lower economic growth; and sometimes can bring about significant risk of unintended effect", Cook said while fielding questions on an earnings call. The shares are up 22 percent so far this year. It's just the number of shares multiplied by the share price.

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