Apple’s market valuation reaches $1 trillion

“Notably, Apple was on the verge of bankruptcy 21 years ago”

Cupertino tech giant Apple was co-founded by Steve Jobs in 1976 in the garage of his childhood home in Los Altos, California. Now on Thursday, Apple has become a $1 trillion ($1,000,000,000,000) company. Yup, that’s a lot of zeros for a brand that was founded 42 years ago. Apple is the world’s second modern-day brand to become worth $1 trillion, after PetroChina, which briefly crossed the same mark in 2007. 

Apple logo 1

Apple is the first company in the United States to have a market cap of over $1 trillion. The brand’s per share price at the time of writing this story (4.30 pm) is $207.39 on NASDAQ. In the S&P 500 index of the biggest US stocks, Apple is followed by Amazon at $872 billion, Google-parent Alphabet at $844 billion, Microsoft at $816 billion, and Facebook at $504 billion. Notably, Amazon is also on the verge of hitting the $1 trillion mark as it has positive Q3 results.

It is worth mentioning that it’s quite possible that Apple may not stay a $1 trillion company for a very long time. The Cupertino tech giant could bounce back and forth over $1 trillion mark in the coming days and weeks. Notably, since the launch of the first iPhone in 2007, Apple’s shares have soared by 1,100 percent and have increased almost a third in the past year.

Soon after Apple hit the $1 trillion mark, Apple CEO Tim Cook sent an email to its employees, which has been obtained by BuzzFeed. In the email, Cook has thanked the brand’s employees and customers.

Akshay aka Techakko has been working with 91mobiles since 2012. Passionate about gadgets, he has a special interest in smartphones and games. The constant stream of news stories he writes is testament to his prowess as a human web crawler. A graduate in Computer Science, he dabbles as a game developer and competes in various gaming tournaments in his spare time. When he wants to take a break from the screen, he enjoys long rides on his Yamaha FZ-S.
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