Apple is officially worth more than $1 trillion

Apple is officially worth more than $1 trillion”

Though Apple is not the first publicly traded company to exceed the $1 trillion dollar mark - PetroChina tipped over it nearly a decade ago - it is the first American company with the distinction, reaching the milestone ahead of competitors Alphabet, Microsoft, and Amazon.

Amazon is still a distant second if you take into consideration the next two companies in the upper echelon of the United States market cap ladder: Google parent Alphabet and Microsoft are both breathing down Amazon's neck, with valuations of $852.73 billion and $822.78 billion, respectively.

Apple has become the world's first public company to be worth $1 trillion. It's gonna be a moment to remember. Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to our values.

Jobs eventually introduced such popular products as the iPod and iPhone that have driven Apple's rise. And with shares priced at just 15.2 times expected earnings, the market has adjusted to the new reality.

To put that into perspective, Boeing's market capitalization is about $204B.

Though many investors consider Apple a hardware company, Jackson said most consumers have a different relationship with Apple's products.

Amazon is also close to hitting the $1 trillion mark, which is something we discussed earlier this week. There's no fundamental difference between Apple being worth $999 billion and $1.01 trillion. As we pointed out yesterday, the valuation itself doesn't mean much, but it goes to show just how drastic of a turnaround Apple was able to make just a couple of decades after being on the brink of going under.

PetroChina, the world's fourth biggest oil company by revenue, was the first company to pass the $1tn mark in 2007. The value of the company's stock has reached an all time new high of $208.38.

Stock markets are volatile, and a small but growing threat from Chinese smartphone makers might eat into Apple's margins in the coming years.

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