Apple officially hits $1 trillion USD in market value

Apple Inc. is officially the first company to achieve a market value of $1 trillion USD.

The Cupertino, Calif.-based tech giant officially passed the milestone Thursday morning, its stock rising approximately $4.32 (all figures USD) per share according to Nasdaq, and was trading at approximately $205.82 as of 10:55 AM – enough to push it past the vaunted $1 trillion mark.

Via NASDAQ.com

The milestone had been a long time coming: Numerous websites had been predicting that either Apple or Amazon would be the first U.S. companies to reach a $1 trillion valuation for months, and many of them, including ITBusiness.ca, reported Apple’s latest quarterly results, released Tuesday, as pushing the company closer than ever to $1 trillion.

It helped that Apple revealed $53.3 billion in quarterly revenue on Tuesday, versus analysts’ expectations of $52.34 billion, according to Thomson Reuters; and that analysts had expected the company to reveal earning per share of $2.18, and that the company delivered $2.34.

And even though its iPhone sales fell slightly short of projections – 41.3 million versus 41.79 million, according to StreetAccount – those sales were dominated by the higher-margin iPhone X, and cemented a quarterly results report that was received considerably more enthusiastically than, say, Facebook’s – or even Amazon’s.

We’d be remiss if we didn’t acknowledge that according to other sources including Bloomberg, Apple actually needs to trade at $207.05 per share to truly hit $1 trillion in market value – though even the sites reporting that number appear to be doing so with bated breath they expect to let out at any moment.

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Jim Love, Chief Content Officer, IT World Canada
Eric Emin Wood
Eric Emin Wood
Former editor of ITBusiness.ca turned consultant with public relations firm Porter Novelli. When not writing for the tech industry enjoys photography, movies, travelling, the Oxford comma, and will talk your ear off about animation if you give him an opening.

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