Apple has become America's first trillion-dollar company

Apple is closing in on a $1-trillion market valuation

Apple is closing in on a $1-trillion market valuation

Apple hit the US$1 trillion mark when its shares reached an all-time high of US$207.05 around midday in NY (4am NZT).

The question now is whether it can build on such a lofty number.

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. "The five-year chart for all three companies show pretty steady upward climbs, but Alphabet's gains only tally 116 per cent versus almost 500 per cent for Amazon and 220 per cent for Apple", Robert Martin of InvestorPlace Media wrote.

Apple's share price pulled it to $1 trillion in market capitalization on Thursday. As a company gets bigger, its growth rate tends to slow down. Since Cook became CEO, Apple's annual revenue has more than doubled to $229 billion while its stock has quadrupled. PetroChina, which is also listed on the New York Stock Exchange, is now worth about $205 billion (₱10.8 trillion).

Amazon is in second place at $866bn, followed by Alphabet, the parent company of Google, at $843bn. According to the Guardian, the share prices have grown 2000 per cent since Tim Cook replaced Steve Jobs, who co-founded the company in 1976, as chief executive in 2011.

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In Apple's case, the outlook certainly looks bright. Back in 1997, the feat they reached today seemed unimaginable as the Toronto Star writes that their stock was being traded at less than $1. The company sold 41.3 million units, versus Canaccord's estimates for $40.5 million. Apple services include payments and subscription fees from iCloud, Apple Music and the AppStore.

Since the iPhone first went on sale in 2007, Apple shares have soared by 1,100% and have jumped nearly a third in the past 12 months. It's a trend the analyst expects to continue to accelerate through next year and beyond.

Higher average selling prices equal higher profit margins, by the way.

Current rumors point towards the cleaner iPhone 11 name, but this is a handset that's set to replace the iPhone X, so names such as the iPhone XI and iPhone X2 are not out of the question.

The company beat Wall Street expectations on Wednesday with $53.3 billion in third-quarter revenue, up 17 percent from the same quarter a year ago.

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