Apple at $1 Trillion: By 2019, Apple May Be Worth $1.4 Trillion

Apple at $1 Trillion: By 2019, Apple May Be Worth $1.4 Trillion”

At our closing share price of $207.39, the stock market now values Apple at more than $1 trillion.

The price of Apple moved above $207.04 and in the process, took the market capitalization to $1 trillion. In a call with investors, CEO Tim Cook also touted growth in other areas such as smart home products, wearables, and services like the App Store and Apple Pay.

The race to a $1 trillion market cap - symbolic as it is - has been closely watched on Wall Street. Consequently, Apple became the first United States company with a market cap of over $1 trillion.

Apple's success was fueled in large part by its iPhone, which transformed it from a niche player in the burgeoning personal computer sector into a global technological powerhouse.

Apple sold 41.3 million iPhones last quarter, and reported an average selling price of $724.

Apple has become the first USA company to reach a market cap of over $1 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.

Kawasaki dismissed critics who say Apple is mostly a smartphone company.

A Forrester analyst said of the company, "Whether they stand alone or are acquired, Apple as we know it is cooked".

Apple isn't the first company in the world to hit a trillion-dollar market cap; Chinese oil and gas company PetroChina beat it to the punch by more than a decade. The shares are up 23 percent so far this year. The whole piece may seem pretty cringey in retrospect given Apple's subsequent revival, everything from the "The fall of an American icon" headline to predictions of irrelevance - "Apple has lost something it's unlikely to win back: the technology leadership that made the Macintosh so different from other computers".

One of five US companies since the 1980s to take a turn as Wall Street's largest company by market capitalization, Apple could lose its lead to the likes of Alphabet Inc GOOGL.O or Inc AMZN.O if it does not find a major new product or service as global demand for smartphones loses steam. "The question now is not [whether we] can we turn around Apple", he said in an early internal meeting. That company is now worth about $205 billion.

While Apple is the first company to hit the trillion dollar mark, it is likely to be followed by Alphabet, Amazon and Microsoft.

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