Apple Inc. Breaks $1 Trillion Market Valuation

SAN FRANCISCO Amazon, Microsoft and Alphabet are locked in a tight race to become the second publicly-listed USA company to reach a $1 trillion stock market value after Apple became the first to touch the 13-digit milestone.

Apple has become the first trillion dollar company today after its stock price soared on the back of excellent financial results.

Apple's huge growth, is largely thanks to the introduction of its portable devices, in 2001, when the iPod was launched the firm was valued at just $6 billion, this propelled the firm to $106 billion by the time iPhone was introduced.

That price translates to a $1 trillion market cap, based on the current estimated number of outstanding shares. Recently, some of his older clients have bought Apple shares for their grandchildren.

Apple sold 43.1m iPhones in the June quarter, as customers flocked to its more expensive models like the iPhone X.

Independent technology analyst Rob Enderle said Apple's trillion-dollar valuation defied financial trends in recent quarters and potential defeat in a legal battle with Qualcomm over mobile chips.

One of those is Canada, but Apple isn't that far behind us now.

Today Apple passed a significant milestone.

Now Forbes may only analyse companies with a presence in the United States, but compare Apple's brand value to that of Coca-Cola's - a one-time world leader in terms of brand recognition - this year valued at just $57.3bn.

The milestone also means that Apple is worth more than just about any country on the planet, there are only 16 that it is worth less than.

It is a market development that has been in the pipeline for well over a year. PetroChina (PTR), the Chinese oil giant, topped the trillion-dollar mark on its first day of trading in 2007, but the stock collapsed soon thereafter.

True, Apple's earnings growth rate is slowing down.

It would appear that, in the stewardship of Apple, Cook is following in the footsteps of the late and much revered Jobs; a heartening tale of good cop/good cop, incorruptible by even unprecedented amounts of money. The social media giant's market cap has sunk to $492.46 billion, and it may take some time for them to hit a trillion. It is now worth about $200 billion, according to Thomson Reuters data.