Apple becomes first company to hit $1 trillion in stock market valuation

Apple becomes first company to hit $1 trillion in stock market valuation

The price of Apple moved above $207.04 and in the process, took the market capitalization to $1 trillion.

Still, the iPhone maker's stock is still up 2.3% on Thursday, and up 31% over the past year.

Apple on Thursday became the first private-sector company in history to be worth $1 trillion, after its share price reached an all-time high above $207.

One of five U.S. 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. or Amazon.com Inc. if it does not find a major new product or service as demand for smartphones loses steam. Amazon's market cap stands at around $877 million, while Alphabet's is $851 million and Microsoft is worth about $822 million.




That would put Apple's stock market value at $973 billion, based on its newly disclosed number of shares. In addition, that is, to shepherding a decade-long succession of iconic products that transformed Apple from a technological boutique to a cultural phenomenon and moneymaking machine.

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. Some market observers consider United States tech stocks to be overvalued, but few think we're in a bubble.

Apple's stock rose 5.89 percent to a record-high close of $201.50 on Wednesday following the company's better-than-expected quarterly results. Companies typically do so when they consider their stock to be undervalued-or to return funding to investors.

Apple's Earnings Per Share (EPS) grew by 40 percent year over year, and revenue grew by 17 percent year over year.

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