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Apple becomes first American public company to cross $1 trillion in value

03 Août 2018

That was Chinese oil and gas giant PetroChina, which briefly topped $1 trillion in market value with its IPO in 2007, before the share price declined.

The iPhone maker was named as the only publicly listed United States company to be valued at $1,000,000,000,000 just before 5pm this afternoon.

Microsoft helps Apple survive with a $150 million investment.

But given Apple's fundamentals and its reasonable valuation, the trillion-dollar market cap looks a lot more like a milestone than it does a wall.

Mr Jobs eventually introduced such popular products as the iPod and iPhone that have driven Apple's rise.

China-based Huawei took the second-place spot from Apple in a tightening global smartphone market during the second quarter of this year, according to the International Data Corporation. This made it hard to determine the company's actual value.

As with other landmarks - such as the Dow crossing 25,000 for the first time -the Apple record is significant because of its resonance beyond the financial universe.

On Thursday, August 2, U.S. time, the technology company and iPhone maker became the first American public company to cross $1 trillion in value.

Apple Chief Executive Tim Cook has a trillion reasons to smile.

Watch Apple trade in real time here.

Apple's previous quarter was equally bullish with Cook reporting the firm's "best March quarter ever".

Cook hasn't escaped criticism, however.

That has raised concerns that Apple has become far too dependent on the iPhone, especially since iPad sales tapered off several years ago. Since its inception, the company has launched 18 different iPhones with over 1.2 billion devices sold. The iPhone now accounts for almost two-thirds of Apple's revenue.

In 2006 the company had sales of less than $20bn and posted profits of nearly $2bn. Most notably, profits and revenues both came in above analysts' consensus estimates.

Apple isn't safely ahead of everyone else yet, Amazon is now valued at around 900 billion and is closing in on a trillion steadily as well.

What makes it impressive is that Apple buys back a lot of its stock.

Apple becomes first American public company to cross $1 trillion in value