Apple Becomes World’s First $ 1 Trillion Company
Apple has become the world’s first publicly traded company to be valued at $1 trillion.
This follows a jump in its stock after reporting strong Q3 earnings that saw the iPhone maker surpass both its own projections and analysts’ estimates, while also making a strong forecast for its upcoming Q4 earnings.
Apple hit the $1 trillion mark early this Thursday morning when its stock crossed $207.05
Other tech giants are not far behind Apple today, with Amazon.com, Alphabet and Microsoft worth more than $800 billion each.
The milestone marks the financial fruit of stylish technology that has redefined society since two mavericks named Steve started the company 42 years ago.
The peak seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1.
To survive, Apple brought back its once-exiled co-founder, Steve Jobs, as interim CEO and turned to its arch rival Microsoft for a $150 million cash infusion to help pay its bills.
Jobs eventually introduced such popular products as the iPod and iPhone that have driven Apple’s rise.
– The Boston Globe & Agencies
