Apple’s Stock Value Reaches $1 Trillion Total

Apple’s Stock Value Reaches $1 Trillion Total

Apple Inc became the first US$1 trillion publicly listed United States company on Thursday, crowning a decade-long rise fuelled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. PetroChina, which is also listed on the New York Stock Exchange, is now worth about $205 billion.

"Steve's vision was grounded in the synergy between hardware products, software services, and third-party apps and media to make sure any customer would have everything they need without ever leaving the Apple ecosystem", said Tony Fadell, who worked closely with Jobs to create the iPod digital music player.

"The $1 trillion mark is more psychological, and sends a message of growth and size into the market", said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

On Tuesday, Apple reported that net profit jumped more than 30 percent to $11.5 billion.

Jobs eventually shepherded a decade-long succession of iconic products such as iPhone that transformed Apple from a technological boutique to a cultural phenomenon and moneymaking machine.

Apart from Apple it seems Amazon is also expected to reach the $1 trillion mark soon.

"There was so much magic in Apple Computer in the early '80s that it is hard to believe that it may fade away".

Pompeo knocks China in pitching USA interests in South-east Asia
Pompeo made broad claims for USA efforts in the Indo-Pacific, heralding "a new era in United States economic commitment to peace and prosperity" in the region.

That said, the competition's continued success doesn't lessen the significance of today's milestone - a capstone to the company's meteoric rise to power over the last decade after a period of near-death in the '90s. However, it depends on knowing the number of shares, which is affected by Apple's buybacks.

That has raised concerns that Apple has become far too dependent on the iPhone, especially since iPad sales tapered off several years ago.

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

Cook took over as CEO in 2011 after Jobs died of pancreatic cancer. That wealth creation exceeds the current market value of every publicly traded US company except Amazon, Microsoft and Google's parent, Alphabet.

Hit parade: Apple pioneered personal computing back in the 1980s but almost went bankrupt in the 1990s.

In 2015, the investor Carl Icahn wrote that Apple's rising R&D spending "should signal to investors that Apple plans to aggressively pursue" growth opportunities.

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