Apple has become America's first trillion-dollar company

Apple is closing in on a $1-trillion market valuation

Apple is closing in on a $1-trillion market valuation

Apple Inc. on Thursday became the first USA company to surpass $1 trillion in market value, underscoring the iPhone maker's explosive growth and its role in the technology industry's ascent to the forefront of the global economy and markets. Cook is celebratory in his reaction to the news, but reminds his team that a share price is "not the most important measure of our success".

News media have been covering a so-called race between Apple and Amazon to reach the trillion-dollar mark, with Google's Alphabet and Microsoft trailing behind. It's just the number of shares multiplied by the share price.

As Bloomberg reported a few days ago, Apple would've needed just a $203.45 stock price to get to the mind-boggling level.

Add the fact that Apple also submits its quarterly 10Q filing to the US Securities and Exchange Commission, which is the "best summing" of its shares, which gives a real-time count.

Apple is an example of American-style capitalism done right.

Apple shares were in such high demand that by the time it opted for a flotation in 1980, it became the biggest stock market launch since Ford in 1956.

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Ever since March 2015, analysts have been predicting that Apple will go on to become the world's first company to be valued at $1 trillion.

The consumer technology giant briefly touched the milestone, buoyed by a stronger than expected earnings report for the second quarter on Tuesday, according to a report by Fortune. Those earnings beat Wall Street expectations on the top and bottom lines, but iPhone sales fell slightly short.

This meant that Apple touched the landmark before its closest rival - retail giant, Amazon.

Dark horses, they were considered.

Since it was first released in 2007, the company has sold well over a billion iPhones while operating one of the largest app stores on the planet which has created around $100 billion in revenue for app developers all over the world.

It would appear that, in the stewardship of Apple, Cook is following in the footsteps of the late and much revered Jobs; a heartening tale of good cop/good cop, incorruptible by even unprecedented amounts of money.

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