Financial fruit: Apple becomes 1st trillion-dollar company


Apple became the first private-sector company to surpass $1 trillion in market value Thursday following its latest surge after reporting strong quarterly earnings.

According to stock market trackers, Apple's shares are now worth $206.54 apiece, meaning Apple has managed to beat its tech rivals to become worth $1 trillion. Apple's rising share price also speaks to the company's impressive ability to keep consumers interested in the iPhone, an impressive feat given that Apple's smartphone has now been around for more than 10 years.

"The $1 trillion mark is more psychological, and sends a message of growth and size into the market", said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. In recent years, Apple has been working to spread its cult-like following to newer devices like smart watches, cordless headphones and smart home speakers.

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For what it's worth, Apple's trillion-dollar debut comes during one of the company's highest heights in terms of products.

The tech company, launched in 1976 in a Los Altos garage, revolutionized personal computing - popularizing experimental technologies developed in the Xerox Parc research labs, such as the mouse and graphical user interface.

The rise is even more astonishing - 50,000% - since the company first listed in 1980.

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Apple shares rose 2.7% today and they're up 22% so far this year. Shares of Apple this week traded at about 15 times expected earnings, compared to Amazon at 82 times earnings and Microsoft at 25 times earnings.

Apple's own Stocks app, powered by Yahoo Finance, actually jumped the gun somewhat, and reported the news early.

Apple's fortunes, by contrast, seem brighter.

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