Published: Sun, August 05, 2018
Markets | By Erika Turner

Apple is now worth $1 trillion

Apple is now worth $1 trillion

However, Apple CEO Tim Cook does not think shareholder value is the most important aspect.

That made Apple worth more than all but the 15 richest countries in the world, based on 2017 data from the CIA World Factbook (based on gross domestic product).

Closely following the online shopping giant, Google's parent company Alphabet is set at $852.45 billion valuations and Microsoft at $828.53 billion market capitalization.

It's official-Apple is now the first $1 trillion publicly listed US company, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.

Apple has become the world's first public company to be worth $1 trillion (£767bn), with the firm's Q3 results boosting stock prices high thanks to better than expected results. Amazon is worth almost $900 billion while Google and Microsoft are each now worth more than $800 billion.

Cook also credited Apple co-founder Steve Jobs for the company's turnaround.

During the session, Apple's stock market value reached as much as $US1.006 trillion.

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Apple's stock market value is greater than the combined capitalisation of Exxon Mobil, Procter & Gamble and AT&T.

(AAPL) on Thursday became the first US public company to reach $1 trillion market valuation, but Chief Executive Officer Tim Cook said it was "not the most important measure" of the company's success.

Today Apple passed a significant milestone.

"While we have much to be proud of in this achievement, it's not the most important measure of our success", Cook said. For the past three years, growth of Apple shares has outstripped that of the S&P 500 index by 37 percent.

"Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges - and that the people who are insane enough to think they can change the world are the ones who do", Cook wrote.

Though many investors consider Apple a hardware company, Jackson said most consumers have a different relationship with Apple's products.

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