Economy

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 Amazon.com 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.



Like this

loading...
loading...

Latest


03 August 2018
Galaxy Note 9 launch video leaks online
The reason: This is an official launch video of the Galaxy Note 9 , which is now already available on the internet. While we don't know pricing, Samsung itself said the price will be "reasonable," though without naming names.

03 August 2018
China threatens US with $60B in tariffs on coffee, honey
The step is reportedly being considered by the White House in order to narrow the trade deficit between the USA and China. Among U.S. products targeted were a wide range of agricultural and energy products such as beef and LNG.

03 August 2018
Trump praises Italy's immigration policy
While many leaders voiced their concerns with the idea, Conte backed Trump's call to readmit Russian Federation to the G-7. Trump also described the Iran nuclear deal, which he pulled the USA out of in May, as "ridiculous" and a "waste of paper".

03 August 2018
Facebook says it identified ‘coordinated’ fake pages
Facebook has not yet officially attributed these fake accounts and pages to the IRA or the Russian government, like in 2016. Warner also said he hoped Facebook would continue working to identify " Russian troll activity " on the website.

03 August 2018
Sanders stands by Trump's 'enemy of the people' media claim
"It is not right, it is not fair, it is not just, it is un-American to come out here and call the press the enemy of the people . As far as I know I'm the first press secretary in the history of the United States that's required Secret Service protection.

03 August 2018
Heads Up: Your Ancient Reddit Password is Compromised
When asked by the BBC, a spokesperson for Reddit refused to share any estimate for how many users may be affected. The social platform said that all users whose data the hacker had taken would be notified via a Reddit message.

03 August 2018
Chelsea offer star man chance to be club’s highest earner of all
The Belgian global has attracted interest from Spanish giants Real Madrid and has expressed his desire to join the Los Blancos. It seems like the 25-year-old can't do anything nowadays without the internet latching on to it with a vice-like grip.

03 August 2018
Extreme Conditions Expected as Firefighters Battle California Blazes
Neighbouring wildfires have had similar effects to the Carr fire, evacuating people from the locality and destroying properties. Officials say 20 people who had been reporting missing in California's devastating wildfires are now accounted for.

03 August 2018
GOP rep. dismisses Trump shutdown talk as 'posturing'
McConnell says the Senate is taking steps toward "funding the government in a timely and orderly manner". Border security is a commitment that doesn't have an expiration date.

03 August 2018
Apple is first public company worth $1 trillion
As Bloomberg pointed out, the number of shares outstanding has been falling about 1.3% per quarter as Apple buys back its shares. And an investor who bought in around the company's initial public offering would have made a very impressive return.