Home » Money

Apple becomes world's first public company worth $1 trillion

02 August, 2018, 20:40 | Author: Kristi Dunn
  • Apple Just Broke $1 Trillion Barrier

That put Apple on a path to overtake Exxon Mobil in 2011 as the largest United States company by market value.

The iPhone maker's market value reached the figure in late morning trading in NY as its shares rose to a new record high above $207.

The company's fortunes were turbocharged by the launch of personal gadgets such as the iPod in 2001 and the iPhone in 2007.

The Silicon Valley stalwart's stock has surged more than 50,000 percent since its 1980 initial public offering, dwarfing the S&P 500's approximately 2,000-percent increase during the same nearly four decades. That also means the actual number of Apple shares may have fallen further since July 20, but most market observers go with the number reported in the 10-Q quarterly financial reports filed with the SEC.

The ailing Jobs handed the corporate reins to his chief lieutenant, Cook, in 2011.

Ghana to experience longest blood moon on July 27
But, while there was a spectacular sunrise, the eclipsed moon disappeared behind low cloud at the crucial moment in Christchurch. Sydneysiders were not disappointed with the eclipse has thousands woke early across the city to take in the spectacle.

The stock was last up 2.4 per cent at US$206.41, a hair below US$1 trillion.

The rise is even more astonishing - 50,000% - since the company first listed in 1980. After launching the iPhone - arguably its most famous product - in 2007, Apple now churns out over 40 million of the devices every quarter, helping it rake in $254.63 billion in revenue previous year.

In 2015, Apple joined the Dow Jones Industrial Average, one of capitalism's most exclusive clubs.

The peak reached Thursday seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1. It is now worth about US$200 billion, according to Thomson Reuters data. Amazon's market cap stands at around $877 million, while Alphabet's is $851 million and Microsoft is worth about $822 million.

Recommended:

  • Tesla shares jump after cash burn worries abate, Musk apologizes to Street

    Tesla shares jump after cash burn worries abate, Musk apologizes to Street

    The company has yet to turn a profit but this quarter's loss is more than twice as high as in the second quarter previous year . But Musk said numerous trade-ins it received were mass-market vehicles, including the Toyota Prius and Honda Accords and Civics.
    Rush to block downloadable 3D 'ghost guns' from web

    Rush to block downloadable 3D 'ghost guns' from web

    The company said it has also blocked access to users in New Jersey and Los Angeles. The White House did not immediately return a request for additional comment.
    Priyanka Chopra and Nick Jonas 'engaged after two months of dating'

    Priyanka Chopra and Nick Jonas 'engaged after two months of dating'

    Speculations are made that Nick Jonas proposed to Priyanka when the duo was holidaying in London to celebrate actress' birthday. Nick reportedly shut down a Tiffany store in NY to hunt for the flawless ring for his ladylove.
  • White House defends decision to bar CNN reporter

    White House defends decision to bar CNN reporter

    He added that he would consider a visit to Washington but noted there must be "necessary conditions", without further explanation. Then, National Security Adviser John Bolton said on Wednesday that plans for an autumn visit would be delayed until 2019.
    Giuliani Bombshell: Cohen Taped 183 Conversations

    Giuliani Bombshell: Cohen Taped 183 Conversations

    Cohen recorded conversations he had with Trump and others, and the recordings are now in the hands of federal investigators. He also called raids of Cohen's home, office and hotel room earlier this year "inconceivable" and "almost unheard of".

    Russia’s Putin says he invited Trump to Moscow

    Putin said on Friday that he has already invited Trump to Moscow, and that he is "ready to come to Washington" to meet with Trump. Putin said Friday, "I understand very well what President Trump said: He has the wish to conduct further meetings".
  • Swedish crown jewels stolen by thieves who escaped on speedboat

    After the theft, multiple people were seen leaving the cathedral in a boat that was waiting right outside, police said. The crowns and orb are made of gold and enamel and encrusted with beads, crystals and pearls.
    Officials release redacted 911 call about Lovato emergency

    Officials release redacted 911 call about Lovato emergency

    She has recently released a song called " Sober ", in which she admitted to recent relapse in her sobriety. Her words are now taking on new meaning given her hospitalization Tuesday for an apparent drug overdose .
    Israel To Expand Settlement In Response To Deadly Stabbing

    Israel To Expand Settlement In Response To Deadly Stabbing

    The army said in a statement Wednesday it was "targeting Hamas military posts in the Gaza Strip" after soldiers were shot at. Lone Palestinian attackers have carried out multiple deadly stabbings and car-rammings against Israelis in recent years.
  • Zimbabwe's ruling party wins majority seats in parliament: Poll body

    Zimbabwe's ruling party wins majority seats in parliament: Poll body

    There have been threats of protests and the opposition parties have said they will release their own set of results. Opposition MDC party supporters hold a voting placard up high during the clashes with police.
    Senators spar on access to Kavanaugh’s staff secretary work

    Senators spar on access to Kavanaugh’s staff secretary work

    Trump nominated Kavanaugh to the high court earlier this month, after Justice Anthony Kennedy announced his retirement . The Kentucky Republican previously expressed reservations about Kavanaugh's opinion on privacy and national security.
    Brock Turner's sexual assault appeal

    Brock Turner's sexual assault appeal

    The argument follows his legal team's December filing to appeal Turner's case , arguing that it was "fundamentally unfair". Alaleh Kianerci, the district attorney who successfully prosecuted Turner's case, was present for Tuesday's hearing.


Popular

Violence threatens as Zimbabwe opposition claims Chamisa election victory over Mnangagwa
Chamisa said he had his own results from most of the almost 11,000 polling stations, saying he would wait for the official tally. "The atmosphere has remained peaceful" and the commission has not received any major complaints about the election, she said.

Israel intercepts ship attempting to break Gaza blockade
Israel's Navy intercepted a ship in the latest Gaza Freedom Flotilla attempting to breach Israel's naval blockade of Gaza. Freedom Flotilla was intercepted by the Israeli navy on Sunday afternoon approximately 70 from the Gaza Strip shore.

Polar bear killed after attack on Arctic cruise ship guard
The polar bear was then shot dead "in an act of self-defence" by the second guard, spokeswoman Negar Etminan said. The first guard apparently did not see the bear, which then attacked him and injured him "on his head".

Abdullah endorses U.S. talks with Taliban in Qatar
They added that there were "very positive signals" from the meeting , and that it was held in a "friendly atmosphere". The Taliban are reported to have insisted that no Afghan officials should be present at the meeting with Ms Wells.

Rahul Gandhi slams BJP for 'tardy' Assam NRC final draft
It is a plan to throw out Bengali speaking people and Biharis. "No genuine Indian citizen should have any fear", he added. The NRC's first draft , released on December 31, confirmed the citizenship of 19 million people.

Mohamed Salah, Sadio Mane on target as Liverpool down Manchester City
Mane wasted two golden chances in the final five minutes to wrap up the victory before sending Hart the wrong way from the spot. I am looking forward to seeing a lot of my friends tomorrow.

How anxious should Facebook be after its market collapse?
For Q2, Facebook's daily active users increased 11% year-over-year, to 1.47 billion on average during the month of June. More likely, though, market buzzards are holding off because of how quickly some analysts are turning on the company.

Kawhi Leonard passes physical with Toronto Raptors
It'll be interesting to see if Green can get the answers he wants before they embark on a new journey together in Toronto.

Cubs affected most from the Cole Hamels trade
Hamels is also 1-7 with a 6.41 ERA and 1.51 WHIP at home this season while pitching in a hitter's paradise in Arlington. Butler was out of minor-league options, so his departure clears room on the roster for Hamels immediately.

California wildfire kills 1, burns firefighters
Braden Varney , 36, a heavy fire equipment operator, was killed while batting another blaze near Yosemite National Park. Brett Gouvea, incident commander of the crews battling the fire, urged residents to pay close attention to the blaze.