Apple becomes the first $1 trillion company


Eshopmarkets    |   Technology   |   04-01-2019


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A trillion dollars is quite the achievement, especially for a company that makes products its buyers generally love. Apple reached the monumental record in August, but the story in 2018 didn’t end with a trillion bucks.

In the same year, Apple became the richest company to ever exist, it also forecasted poor iPhone sales for the first time in years and fell victim to a number of disconcerting controversies. It even quickly lost its top spot to Microsoft shortly after its record-breaking announcement. That’s just the kind of year it’s been for Apple.

Apple became the world’s first trillion-dollar public company, as a rise in its share price pushed it past the landmark valuation.

The iMac to iPhone company, co-founded to sell personal computers by the late Steve Jobs in 1976, reached the historic milestone as its shares hit $207.05, the day after it posted strong financial results. Apple’s share price has grown fourfold since Tim Cook replaced Jobs as chief executive in 2011.

The company hit a $1tn market capitalisation 42 years after Apple was founded and 117 years after US Steel became the first company to be valued at $1bn in 1901.



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