Apple hits $1,000,000,000,000

Apple becomes world's first trillion dollar company

Apple hit the $1tn mark on Thursday afternoon when its stock passed $207.05 per share.

The stock has risen more than 21 per cent this year and an eye-watering 50,000 per cent since it became a public company in 1980.

Apple's fast-growing services business, as well as strong hints that a new iPhone launch is in the cards for the coming months, appears to have bolstered investor confidence. Apple became part of the Dow Jones Industrial Average, a widely used measure of stock prices, in 2015.

The beloved tech giant is now officially the first trillion-dollar company, beating Amazon to the historic milestone.

Apple shares rose 2.7% today and they're up 22% so far this year. "Using the current shares outstanding and the consensus price targets for each of the tech giants shows Amazon crossing the finish line before Apple".

The company has managed to notch higher revenues, even when iPhone sales fall shy of expectations due to a trend of Apple making more money off each handset.

Financial fruit: Apple becomes 1st trillion-dollar company
Apple's stock has been buoyant ever since it released its fiscal Q3 earnings, which were mostly positive for the company. Apple hit the US$1 trillion mark when its shares reached an all-time high of US$207.05 around midday in NY (4am NZT).

There were concerns why Alphabet may not win this race (it did not), according to an article published on, well, the Nasdaq, where it is traded.

True, Apple's earnings growth rate is slowing down.

The dream of being the world's first trillion-dollar company is something the tech giants have always been chasing and, while Apple was the first to cross the finish line, the rest aren't all that far behind: Microsoft now sits at a $824 billion valuation, while Alphabet and Amazon loom just ahead at $854 billion and $878 billion, respectively - each a gilded stone's throw away from a trillion.

"It is not just about inventing new products, it is about delivering more value to current products through services and apps that can deliver revenue", said analyst Milanesi. Apple briefly hit the $1 trillion mark before falling back below it amid fast-moving trade. And it has a vote of confidence from some analysts.

One of five USA companies since the 1980s to take a turn as Wall Street's largest company by market capitalization, Apple could lose its lead to the likes of Alphabet Inc GOOGL.O or Amazon.com Inc AMZN.O if it does not find a major new product or service as global demand for smartphones loses steam.

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