Share prices of Apple reached $207.05 on Thursday to push its evaluation past the trillion dollar mark. So who's going to pay for it? The trillion dollar trophy can only bring more scrutiny and even higher expectations.
With the company pretty much taking over the world with the iPod and several subsequent revolutionary products, it's no surprise that they have just become the first publically-traded company to be valued at over $1 trillion. Although Apple is the first to do so, Google's parent company Alphabet, Microsoft, and Amazon all have genuine chances at reaching a $1 trillion market capitalization.
Apple hit the $1tn mark on Thursday afternoon when its stock passed $207.05 per share.More news: Fans celebrate the birthdays of JK Rowling and Harry Potter
This was the crowning event in a week in which Apple reported its quarterly results on Tuesday in which revenue was up 17 percent year-on-year to $53.3 billion.
Apple also released a kit for developers to create augmented-reality experiences on iPhones or iPads, saying that "overnight iOS became the biggest AR platform in the world". However, the share price quickly fell back, leaving the company worth just $962 billion at the time of writing.
After Steve Jobs returned to Apple as the CEO in 1997, he axed most of the product lines to focus on PCs.More news: FIRE MAP: Mendocino Complex Fire as of Thursday morning
Stock markets are volatile, and a small but growing threat from Chinese smartphone makers might eat into Apple's margins in the coming years.
Apple, which produces about 40 million iPhones every quarter, hauled more than $254 billion in revenue a year ago. Recently, some of his older clients have bought Apple shares for their grandchildren. "We returned nearly $25 billion to investors through our capital return programme during the quarter, including $20 billion in share repurchases".
The firm also confirmed it would be in a position to execute the previous $210 billion share repurchase authorization during the following fiscal quarter. As HuffPost reporter Emily Peck tweeted: "Did Apple get to $1 trillion through sheer innovation and ingenuity?" The online sales company now has a market value of $880 billion dollars.More news: Trump Administration Threatens Even Higher Tariffs On China