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Apple Crosses $1 Trillion Mark In Value, First US Firm To Do So
Apple on the economy’s eye, it seems (Getty Images)
Apple Inc. has now become the first US firm to hit the $1 trillion mark in terms of market capitalisation, reports Bloomberg. The feat has come four decades after the company was founded by Steve Jobs in a garage and which later on went to revolutionise the world of computing, music and mobile communications.
Apple shares on Friday rose 2.9 per cent to $207.39, propelling the firm’s total value to $1.002 trillion.
PetroChina was the last firm to cross the $1 trillion mark in late 2007, but the value fell quickly after oil prices slumped during the last depression.
Other tech giants which are en route to achieving this feat are Amazon, Alphabet and Microsoft, all based in the US.
Apple was incorporated in 1976 and has been continuously carrying out innovations in the field of software and hardware, with path-breaking brands such as iPod, iPad, iMac and iPhone.
When Steve Jobs passed away, leaving behind such an enviable legacy, fears were rife over the sustainability of Brand Apple. However, its current CEO Tim Cook has been anything but disappointing, and on the contrary, has taken the organisation forward with new innovations such as iPhone X and Apple Watch, apart from self-driving cars and augmented-reality glasses.
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