Apple becomes first trillion dollar USA company

A monitor displays Apple Inc. stock information at the Nasdaq Market Site in New York City on Aug. 2

A monitor displays Apple Inc. stock information at the Nasdaq Market Site in New York City on Aug. 2

"It's like the horse that crosses the finish line and says I'm totally wiped out", said Morgan whose firm holds more than 200,000 shares in Apple.

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.

Apple sold 41.3 million iPhones last quarter, and reported an average selling price of $724. Each of these shares became much more valuable as the market capitalization of the company touched the Trillion Dollar mark.

The feat has of course been a race because the stock market's top 10 is now dominated by tech companies, with Amazon topping $900 billion in market cap and Google and Microsoft worth more than $800 billion.

Consequently, Apple became the first United States company with a market cap of over $1 trillion. It's gonna be a moment to remember.

And while online pre-orders and global product releases have whittled down the long, colorful queues at Apple shops on iPhone launch days, throngs still make pilgrimages to lay hands on devices.

PetroChina was briefly worth about $1.1 trillion after floating in Shanghai in 2007, although most of its shares were held by the Chinese government.

The Apple Inc. logo is displayed on a monitor outside the Nasdaq Market Site in New York City on Aug. 2 2018.
Peter Foley  Bloomberg
The Apple Inc. logo is displayed on a monitor outside the Nasdaq Market Site in New York City on Aug. 2 2018. Peter Foley Bloomberg

However, there's was a bit of excitement leading up to this milestone: the number of its shares, which is arguably the main player in all these.

Today Apple Inc. surpassed the $1 trillion dollar mark in value, showing once again that it is the dominant force when it comes all the companies out there today.

Apple is the first US company to hit the $1T milestone; here's why AAPL shares can climb even higher.

Apple's CEO at the time, Gil Amelio, split the company into 7 separate divisions, each responsible for its own profit or loss.

Surprisingly, against all odds, the news has come off in a time when the company has been experiencing a lower-than-expected sales of the 10th anniversary iPhone X, though it was the best-selling model in both Q4 2017 and Q1 2018.

Markets.com chief analyst Neil Wilson said that Apple's growth showed that they shifted away from relying on heavy iPhone sales.

Iowa reports 1st West Nile virus death of 2018
Despite the low numbers of nuisance mosquitoes this summer, the numbers of infected Culex tarsalis continue to increase. Severe cases can lead to more serious illnesses, such as encephalitis and paralysis, and in some cases it can be fatal.

China threatens new tariffs on $60 billion worth of USA goods
China countered with more tariffs on another $50 billion, and threatened that it would respond to every Trump tariffs with an equal tariff of its own.

Max Meyer: Crystal Palace sign Germany midfielder from Schalke
This is still a major signing for the Eagles who are looking to make a big impact on the Premier League this year. Palace also have to pay Schalke a small compensation fee of around £450,000 for his training and development.

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    During the day, the share price of the iPhone maker jumped by 2.8% to $207.05, passing the $1tn (£762bn) mark in NY trading. PetroChina once had a $1 trillion valuation, but only briefly, and most of its shares were owned by the Chinese government.

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