Last week Thursday, Apple officially became the first US public company to reach a valuation of one trillion US dollars ($1,000,000,000,000).
This came as a result of Apple’s stock hitting $207.05 a share, which when multiplied by its 4,829,926,000 shares (as of July 20), pushed its worth across the trillion dollar mark.
The stock did experience a dip below the required level during the trading session on Thursday, but managed the 2.9 percent at the close to hand Apple the trillion-dollar title.
The significance behind this staggering figure is monumental; it means that Apple is worth more than all but the 15 of the financially wealthiest countries in the world (measured against Gross Domestic Product). Only oil and gas titans, PetroChina, managed the feat, albeit for a short time, in 2007.
Remembering Steve Jobs
In a memo, Apple CEO Tim Cook wrote: “Financial returns are simply the result of Apple’s innovation, putting our products and customers first, and always staying true to our values.” (Reuters).
He also recalled the late virtuoso, Steve Job’s, vision, stating: “Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges — and that the people who are crazy enough to think they can change the world are the ones who do.”
Apple’s winning innovations
The Apple iPhone is one of the company’s best-selling products in the world, and their fiscal quarterly review projections suggest an increment in phone sales in the coming months, with three new phones hitting stores from September this year.
It’s not just phones, however, that’s boosted Apple’s stock valuation, but also its bold segue into wearables, and software and services such as Apple Music and the App Store.
In 2017, Apple introduced their first breakthrough phone design in three years with the Apple X, whose most evident change saw the TouchID button being replaced by Face ID technology.
It was the phone that was widely tipped to be the future of all mobile devices, and even though it was $200 more than its predecessor, the iPhone 8 Plus, at $999, it still emerged as Apple’s best-selling device since its release on November 3 2017.
Apple have three new phones lined up for release this year, including a larger version of the iPhone X, and a less expensive one, too.
Apple officially worth a trillion, but could be worth more
As if crossing the trillion dollar mark is not enough, it appears as though Apple might actually be worth more than its market valuation.
Monness Crespi Hardt analyst, Brian White, notes: “In the end, we continue to believe Apple remains one of the most underappreciated stocks in the world with a valuation that remains depressed.”
