Apple Becomes First Company In The U.S. To Be Worth $1 Trillion
Apple has just made history by becoming the first U.S. company to be worth $1 trillion after their stock price hit $207.05 per share.
By austind03 on August 2, 2018
Apple has just made history by becoming the first U.S. company to be worth $1 trillion!
According to Business Insider, the company’s second-quarter earnings topped expectations on Wall Street and lead to shares jumping in price. However, it wasn’t until Thursday morning that shares hit the magic number of $207.05 apiece. At this price, the company was finally able to crack $1 trillion.
This achievement continues Apple’s amazing growth since the early 2000s. In fact, Business Insider reports that the company’s stock price has risen by almost 40,000% since first hitting the market in 1980. Even better, Wall Street analysts predict that the company’s stock will continue to go higher in the coming weeks.
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Apple beat out several other companies in the race to $1 trillion. While Google’s parent company Alphabet, Amazon, and Microsoft all came close, they couldn’t hit the mark in the end. Currently, Amazon is the next closest U.S. company with an estimated value of $872.5 billion.
On top of all that, Apple now has a value greater than the GDP of all but 27 major countries.
When looking at the rest of the world, PetroChina also briefly reached the $1 trillion mark back in 2007. However, the company’s value has since fallen to less than $500 billion in the years since.
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