Apple Becomes World's 1st Private-Sector Company Worth $1 Trillion
02 August, 2018, 20:09
Apple Inc updated its latest share count on Wednesday, putting the magic stock price at $207.04 that would make the iPhone maker the first publicly listed USA company valued at $1 trillion. The stock has been surging this week as anticipation mounts for the next generation of iPhone, expected to be released in September.
Apple shares rose 2.7 percent to an all-time high of $207.05 around midday.
The $1 trillion milestone is largely symbolic, though impressive.
Apple is benefiting from investor euphoria surrounding the tech sector broadly as well - and it could soon have company in the trillion dollar club. Amazon is worth almost $900 billion while Google and Microsoft are each now worth more than $800 billion.
The first company to ever be worth $1 trillion was Petrochina, which reached the valuation briefly on its first day of trading, following its 2007 IPO.
Apple shares topped $207 on Thursday, pushing the company to a market capitalization of $1 trillion just before noon, before falling back to around $206.
"I think it just speaks to just how powerful the Apple ecosystem has become over the last few decades", GBH Insights analyst Dan Ives told CNBC. 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.
That price translates to a $1 trillion market cap based on the current estimated number of outstanding shares.
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