Apple $1 trillion milestone: Here’s why it matters

04 August, 2018, 02:03 | Author: Martin Tyler
  • Apple becomes world’s first trillion-dollar company

Apple officially reached a market capitalization of $1 trillion as it stock surged again Thursday, making it the first USA company to hit the massive valuation.

In early May, Apple unveiled a new $100 billion share buyback plan, alleviating worries about the iPhone's prospects and a hit from US-China trade tensions.

Apple's stock has risen more than 50,000% since it first listed in 1980 - far higher than the 2,000% increase for the S&P 500 over the same period.

Apple's success was fueled in large part by its iPhone, which transformed it from a niche player in the burgeoning personal computer sector into a global technological powerhouse.

Market capitalization, or market cap, is the total combined value of all of a publicly traded company's outstanding shares. It's since fallen slightly, but not enough to knock Apple back down into the billions.

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Apple has sold more than a billion iPhones.

The feat has of course been a race because the stock market's top 10 is now dominated by tech companies, with Amazon topping $900 billion in market cap and Google and Microsoft worth more than $800 billion.

Mr Jobs died in 2011 and was succeeded as chief executive by Tim Cook. As HuffPost reporter Emily Peck tweeted: "Did Apple get to $1 trillion through sheer innovation and ingenuity?"

Today's chart shows this milestone - as well as numerous ones before it - through a period of over 200 years of US market history.

As the co-founder of one of the world's most successful companies, his is one of the most recognised names in the world of tech.

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The company is in the unique situation of controlling the hardware and software in its mobile devices, with content for users required to go through its App Store that takes a percentage of revenue.

It is a market development that has been in the pipeline for well over a year.

Apple is the first private sector company to reach this level.

It would appear that, in the stewardship of Apple, Cook is following in the footsteps of the late and much revered Jobs; a heartening tale of good cop/good cop, incorruptible by even unprecedented amounts of money. Amazon had the second-largest U.S. market cap as of Wednesday, at roughly $872.5 billion. Depending on who is doing calculations, the valuation of Saudi Aramco state-controlled oil and gas company is between $1.2 billion and $1.5 billion.

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