Apple becomes world's first trillion dollar company

Apple becomes world's first trillion dollar company

Apple becomes world's first trillion dollar company

Apple on Thursday became the first private-sector company in history to be worth $1 trillion, after its share price reached an all-time high above $207.

"It is still, compared to many other companies, not an expensive stock".

The long race to see which USA tech giant will become the first company worth $1 trillion is finally over.

Apple with its world-class range of products is already one of the most valuable companies in the world and the increase in its popularity is surging day by day.

All of these products and more have helped Apple get to where it is today the world's leading company, a position that Apple will need to fight to keep against increasingly tough competition.

July 2008: Apple launches the online App Store to sell applications for the iPhone and iPod Touch.

By previous year, its sales had grown more than 11-fold to $229 billion - the fourth highest in the S&P 500 - and net income had mushroomed at twice that rate to $48.4 billion, making it the most profitable publicly-listed U.S. company.

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

However, not too behind as another United States company Amazon is also on the verge of hitting the $1 trillion as market insiders are confident of its positive Q3 results.

Apple shares rose over three percent on a strong earnings report published earlier this week.

Oil giant PetroChina (PTR) briefly topped a trillion dollar valuation in 2007 when its stock began trading in Shanghai, but shares quickly plunged afterwards.

Cook's hiring may have been one of the best things Jobs did for Apple. They're up 22 percent so far this year.

The company, which was started in a garage in Palo Alto by Steve Jobs and Steve Wozniak in 1976, has transformed the way people communicate with its ubiquitous iPhone.

Related news