Apple becomes world's 1st publicly traded trillion-dollar company

Apple becomes world’s first private sector company worth $1 trillion

Apple officially reached a market capitalization of $1 trillion as it stock surged again Thursday, making it the first USA company to hit the massive valuation.

However, Apple has always looked the most likely victor, as I noted in June: Apple is close to becoming the first U.S. company worth $1 trillion.

The tech company's stock jumped more than 3.3 per cent to as high as $208.38, bringing its gain to about 9 per cent since Tuesday when it reported quarterly results that beat expectations and said it bought back $20-billion of its own shares. Apple also forecast a strong fourth quarter, posting a revenue guidance of between $60 and $62 billion.

Apple CEO Steve Jobs speaks during an Apple special event in Cupertino, Calif., April 8, 2010.

Like the four-minute mile or breaking the sound barrier, the idea of a company with a market capitalization - the share price multiplied by the number of outstanding shares - of more than a trillion dollars was once nearly unthinkable. In three months, Apple saw profits of $11.5 billion on $53.3 billion in sales. Jobs returned and, with key lieutenants like design head Jony Ive and operations chief Tim Cook, saved Apple and turned it into the giant it is today.

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Jobs eventually introduced such popular products as the iPod and iPhone that have driven Apple's rise.

Last year, sales had risen to $229bn and profits to $48.4bn, making it the most profitable public-listed U.S. company.

That has raised concerns that Apple has become far too dependent on the iPhone, especially since iPad sales tapered off several years ago. Amazon, Google parent Alphabet and Microsoft have all watched their fortunes rise - and investors have watched closely to see which would hit $1 trillion first.

As Jobs' top lieutenant, Cook oversaw the intricate supply chain that fed consumers' appetite for Apple's devices and then held the company together in 2004 when Jobs was stricken with a cancer that forced him to periodically step away from work - sometimes for extended leaves of absences.

The massive evaluation was calculated when their stock surged even higher than it had in the past week, meaning that they racked in over $65 billion in just two days since they were being evaluated at $935 billion on July 31. "This trinity established Steve's vision and created the Apple we know today".

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