Tim Cook on $1 trillion valuation: Keep your eye on the ball

Tim Cook on $1 trillion valuation: Keep your eye on the ball

Tim Cook on $1 trillion valuation: Keep your eye on the ball

Apple made history Thursday when it became the first publicly listed USA company to be valued at $1 trillion.

At press time Apple's stock cost $206.90 and its market capitalization was $1.017 trillion.

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. Starting from 2001, the company started to expand its family of products once again with the iPod music player that was followed by the Apple TV in 2006 (called iTV originally), the iPhone in 2007, the iPad in 2010, the Apple Watch in 2015, and the HomePod in 2017.

The development of the iPhone is in large part attributed to the late Steve Jobs, who unveiled the device to much fanfare back in 2007.

Apple sold 41.3 million of them in the three months to June this year - and about 216 million worldwide last year.

Heck, Amazon.com (AMZN, $877 billion), Google parent Alphabet (GOOGL, $852 billion) and Microsoft (MSFT, $825 billion) aren't all that far behind the vaunted trillion-dollar level.

CEO Tim Cook celebrated the moment in an all-staff memo by acknowledging it as a "significant milestone" that gives Apple's workers "much to be proud of", while adding that it is "not the most important measure" of Apple's success. "The five-year chart for all three companies show pretty steady upward climbs, but Alphabet's gains only tally 116 per cent versus almost 500 per cent for Amazon and 220 per cent for Apple", Robert Martin of InvestorPlace Media wrote. The company owes its success to a number of new and novel products that not only revolutionized the technology industry but, in many ways, changed the entire world. Here's one: today, Apple became the first USA company to surpass a total market capitalization of $1 trillion (trillion as in a thousand billions). Apple's own "Stocks" app, which is based on Yahoo Finance data, also put the company's value at $1.01 trillion.

Its market value might be double that of Apple or even more. Mr Jobs passed away in 2011 and his legacy lives on in every Apple product. This is just the beginning of a new chapter for the company - one in which it will have to choose its priorities more carefully now than ever. That company is now worth about $205 billion. On Thursday, Amazon's market capitalization was around $874 billion.

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