Apple becomes world's first trillion-dollar company

Muriel Colon
August 2, 2018

In 2007, PetroChina Company's market cap surpassed the $1-trillion mark though the Chinese company's complex structure ensured that most of the shares stayed with the government, The Wall Street Journal reported.

The tech company, launched from a garage in 1976, has been on a steady climb through the years, revolutionizing personal computers and phones with its Macs and iPhones.

Other technology companies with high-flying, trendy stocks are expected to join Apple in the $1 trillion club before long.

In the almost more than four decades since Steve Jobs founded the company in a California garage, Apple has become almost synonymous with personal computing and mobile devices. Under CEO Tim Cook, Apple also has embraced the internet, with its thriving services business helping propel the company toward the new milestone. "A clean beat on the path to $1 trillion".

Apple first listed in 1980 and its stock has risen more than 50,000% since then.


As Bloomberg pointed out, the number of shares outstanding has been falling about 1.3% per quarter as Apple buys back its shares.

In 2015, Apple joined the Dow Jones Industrial Average, one of capitalism's most exclusive clubs.

One of five United States companies since the 1980s to take a turn as Wall Street's largest company by market capitalisation, Apple could lose its lead to the likes of Alphabet or Amazon.com if it does not find a major new product or service as global 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.

This meant that Apple shares had to reach $207.04 per share before breaking $1 trillion.

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