Apple hits the $1T milestone

Apple becomes world's first trillion dollar company

It has dipped after reaching the milestone and trades at $206.09 now.

Apple just became the first USA company with a market capitalization over $1 trillion. Apple's own "Stocks" app, which is based on Yahoo Finance data, also put the company's value at $1.01 trillion. The launch of the original iPhone was a turning point for Apple, and the relatively new iPhone X continued that trend, fueling a stock increase of more than 30-percent over the past year.

The company beat Wall Street expectations on Wednesday with $53.3 billion in third-quarter revenue, up 17 percent from the same quarter previous year. In its most recent quarter, Apple fetched an average price of $724 per iPhone - a almost 20 percent increase from an average of $606 per iPhone at the same time previous year.

It began an ascent on Tuesday after reporting solid results in its latest quarter.

The smartphone maker led the S&P technology index 1.4 percent higher, the biggest percentage gainer among the 11 major sectors of the S&P 500.

The rise is even more astonishing - 50,000% - since the company first listed in 1980.

In Apple's case, the outlook certainly looks bright. Despite surging services revenue, iPhones generated 61 per cent of the company's sales in its last fiscal year, up from 56 per cent in 2014.

Donald Trump on Iran: 'If they want to meet, I'll meet'
Mr Trump said he had "no preconditions" for a meeting with the Iranians, adding: "If they want to meet, I'll meet". Firstly, Trump has sought to meet his Iranian counterpart numerous times in the past already, without success.

The world's most valuable company has also goosed its stock price through buybacks. Saudi officials have said the IPO would value Saudi Aramco, as the company is often called, at about $2 trillion. His vision, showmanship and sense of style propelled Apple's comeback. But it might not have happened if he hadn't evolved into a more mature leader after his exit from the company in 1985.

The company, which was started in a garage in Palo Alto by Steve Jobs and Steve Wozniak in 1976, has transformed the way people communicate with its ubiquitous iPhone.

The race to a $1 trillion market cap - symbolic as it is - has been closely watched on Wall Street.

Robert Galbraith / Reuters Apple CEO Steve Jobs gestures during his unveiling of the iPhone 4 in San Francisco, Calif., June 7, 2010.

Mr Jobs died in 2011 and was succeeded as chief executive by Tim Cook.

Cook has leveraged the legacy that Jobs left behind to stunning heights.

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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