Apple becomes the world's first trillion dollar company

Apple Stock Buyback Tops $20B In Second Quarter

Apple Stock Buyback Tops $20B In Second Quarter

"If you look at a trillion dollars, that's about 5 percent of the US economy".

Apple shares rose 2.7% to an all-time high of $207.05 at around midday. Apple on the other hand is the first non-state-owned company to reach this stratospheric valuation on its own merits without implicit government guarantees or backing.

By previous year, its sales had grown more than 11-fold to $229 billion - the fourth highest in the S&P 500 - and net income had mushroomed at twice that rate to $48.4 billion, making it the most profitable publicly-listed USA company.

The Silicon Valley stalwart's stock has surged more than 50,000 percent since its 1980 initial public offering, dwarfing the S&P 500's approximately 2,000-percent increase during the same nearly four decades. The value of Microsoft is also more than $800 billion.

China-based Huawei took the second-place spot from Apple in a tightening global smartphone market during the second quarter of this year, according to the International Data Corporation.

Still, even if it's only a temporary achievement, it's an achievement nonetheless, especially given the fact that other tech companies have seen their values stagnate or outright fall recently. Apple's stock price climbed to a new high of $208.38 around 2 p.m., Eastern time today, pushing its market cap past that $1 trillion mark.

Watch Apple trade in real time here. Ives continued to say: "It just speaks to the vision that [co-founder Steve Jobs] and now [CEO Tim Cook] have had in making sure Apple isn't just a hardware company".

Ivanka Trump says news media are not ‘enemy of the people’
Melania visited a border patrol centre in Arizona and said she aimed to "educate" herself about current immigration issues. She went on to say that immigration is an "incredibly complex topic", using her mother as an example.

Cook's hiring may have been one of the best things Jobs did for Apple.

Apple's services division alone is on pace to generate about $35 billion in revenue this fiscal year - more than all but a few dozen US companies churn out annually.

Applehas sold more than a billion iPhones since the first model was unveiled by Jobs in 2007.

Apple had also come under fire as it accumulated more than $250 billion in taxes in overseas accounts, triggering accusations of tax dodging.

With its 2018 iPhone lineup slated for release this fall, Apple is expecting to have a huge Q4 too.

What makes it impressive is that Apple buys back a lot of its stock.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.