Apple is the first $1 trillion company in history

Apple is the first $1 trillion company in history

Apple is the first $1 trillion company in history

Apple became the first US$1 trillion (S$1.3 trillion) publicly listed USA company on Thursday (Aug 2), 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.

The tech company, launched in 1976 in a Los Altos garage, revolutionized personal computing - popularizing experimental technologies developed in the Xerox Parc research labs, such as the mouse and graphical user interface.

Apple shares topped $207 on Thursday, pushing the company to a market capitalization of $1 trillion just before noon, before falling back to around $206.

The Silicon Valley stalwart's stock has surged more than 50,000 percent since its 1980 initial public offering, dwarfing the S&P 500's approximately 2,000-per-cent increase during the same nearly four decades.

The ailing Jobs handed the corporate reins to his chief lieutenant, Cook, in 2011. Jim Cramer, for example, recently argued that Apple shares could start approaching $300.

The stock has risen about 9% since Tuesday when it reported better than expected results for the three months to June.

Adjusted for splits, Apple's stock price has risen almost 40,000% since its initial public offering in 1980.

Apple is not the first publicly traded company in the world to surpass the trillion dollar mark though.

That would put Apple's stock market value at $973 billion, based on its newly disclosed number of shares. Amazon's market cap stands at around $877 million, while Alphabet's is $851 million and Microsoft is worth about $822 million.

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