Apple becomes first US-listed trillion-dollar company
Apple Inc became the first $1 trillion (USD) publicly listed U.S. company on Thursday, 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.
The tech company's stock jumped 2.8 percent to as high as $207.05, bringing its gain to about 9 percent since Tuesday (July 31) when it reported June-quarter results above expectations and said it bought back $20 billion of its own shares.
Started in the garage of co-founder Steve Jobs in 1976, Apple has pushed its revenue beyond the economic outputs of Portugal, New Zealand and other countries.
Apple's stock market value is greater than the combined capitalization of Exxon Mobil, Procter & Gamble and AT&T. It now accounts for 4 percent of the S&P 500.
One of three founders, Jobs was driven out of Apple in the mid-1980s, only to return a decade later and rescue the computer company from near bankruptcy.
He launched the iPhone in 2007, dropping "Computer" from Apple's name and super-charging the cellphone industry, catching Microsoft Corp, Intel Corp, Samsung Electronics and Nokia off guard.
That put Apple on a path to overtake Exxon Mobil in 2011 as the largest U.S. company by market value.
Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services.
Founded: 1 April 1976, Cupertino, California, United States
Headquarters: Cupertino, California, United States
Founders: Steve Jobs, Steve Wozniak, Ronald Wayne
Apple Inc became the first $1 trillion (USD) publicly listed U.S. company on Thursday, 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.
The tech company's stock jumped 2.8 percent to as high as $207.05, bringing its gain to about 9 percent since Tuesday (July 31) when it reported June-quarter results above expectations and said it bought back $20 billion of its own shares.
Started in the garage of co-founder Steve Jobs in 1976, Apple has pushed its revenue beyond the economic outputs of Portugal, New Zealand and other countries.
Apple's stock market value is greater than the combined capitalization of Exxon Mobil, Procter & Gamble and AT&T. It now accounts for 4 percent of the S&P 500.
One of three founders, Jobs was driven out of Apple in the mid-1980s, only to return a decade later and rescue the computer company from near bankruptcy.
He launched the iPhone in 2007, dropping "Computer" from Apple's name and super-charging the cellphone industry, catching Microsoft Corp, Intel Corp, Samsung Electronics and Nokia off guard.
That put Apple on a path to overtake Exxon Mobil in 2011 as the largest U.S. company by market value.
Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services.
Founded: 1 April 1976, Cupertino, California, United States
Headquarters: Cupertino, California, United States
Founders: Steve Jobs, Steve Wozniak, Ronald Wayne
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