Financial fruit: Apple becomes 1st trillion-dollar company

Apple Buybacks May Total $21 Billion in Q2

Technology giant Apple on Thursday became the first private sector company in history to be worth $1 trillion (Rs 68 lakh crore) after its share price reached an all-time high, climbing above $207 (Rs 14,202), Fox Business reported.

This morning, Apple shares surged past $207.05, putting the company's market cap at an astounding $1 trillion before pulling back slightly.

Apple has become the first US-listed company to be valued at a trillion dollars. "A clean beat on the path to $1 trillion". One of his biggest coups came in 1998 when he lured a soft-spoken Southerner, Tim Cook, away from Compaq Computer at a time when Apple's survival remained in doubt.

Although many have doubted Apple's staying power over the years, unlike many hardware makers the company has ridden the elegance and functionality of its devices.

Last year, sales had risen to $229bn and profits to $48.4bn, making it the most profitable public-listed USA company. While year-over-year iPhone sales increased by just 1% this past quarter, iPhone-based revenue jumped by a whopping 20%.

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He launched the iPhone in 2007, dropping "Computer" from Apple's name and super-charging the mobile phone industry, catching Microsoft Corp, Intel Corp, Samsung Electronics and Nokia off guard.

Adjusting for four stock splits over the years, Apple debuted on the stock market for the equivalent of 39 cents a share on December 12, 1980, compared to Thursday's high of $207.05.

Apple's stock price has been aided by its better-than-expected Q3 2018 earnings report.

This year saw a slew of new Macbook Pro models, the Apple HomePod and rides on the tail of the late-2017 launch of the iPhone X.

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