Apple Makes History As The World's First $1 Trillion Company

Apple becomes world’s first trillion-dollar company

Apple becomes world’s first trillion-dollar company

What happened: Apple's market value crosed the $1 trillion mark today-a first for any publicly traded United States company.

The iPhone-maker entered the rarefied air of a 13-digit market cap as its share price hit $207.05.

While Apple is without any doubts ahead of other US-based high-tech companies in terms of market cap, it is not the world's most expensive firm per se. Since the inauguration of the iPhone back in 2007, Apple's shares have risen by 1,100%, jumping a third in the past year alone.

Apple has sold more than a billion iPhones.

Amazon is the second most valuable company at $885 billion and Alphabet, the parent of search leader Google, is worth about $860 billion. And good luck arguing that Tim Cook, who has basically been running Apple since 2009, has been a poor steward given that the stock is up some 2,000 percent since then. The online sales company now has a market value of $880 billion dollars.

Independent technology analyst Rob Enderle said Apple's trillion-dollar valuation defied financial trends in recent quarters and potential defeat in a legal battle with Qualcomm over mobile chips.

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Apple, which has seen its stock surge more than 50,000% since its stock market listing in 1980, has struggled to produce a product that replicates the success of the iPhone.

Today Apple passed a significant milestone. "Even though you don't have a contract that says your next iPhone you're going to upgrade in one year or two years, who among us who owns an iPhone is not going to, in three to four years, upgrade to the latest and greatest iPhone?"

And there are almost two million developers in the country making apps for Apple's iOS. Shares of Apple this week traded at about 15 times expected earnings, compared with Amazon at 82 times earnings and Microsoft at 25 times earnings.

"It is not just about inventing new products, it is about delivering more value to current products through services and apps that can deliver revenue", said analyst Milanesi.

By 1997, the company had fallen on hard times and shares were worth just a few dollars.

Apple isn't safely ahead of everyone else yet, Amazon is now valued at around 900 billion and is closing in on a trillion steadily as well.

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