Apple is first public company worth $1 trillion

Apple has won the race to a $1 trillion valuation ahead of its so-called FAANG rivals (Facebook, Amazon, Netflix, Google).

Apple on Thursday became the first private-sector company in history to be worth $1 trillion, after its share price reached an all-time high above $207. This made it hard to determine the company's actual value. The tech giant had relatively flat iPhone sales but increased its revenue thanks largely to higher-priced models including the iPhone X, with a list price of just under $1,000. Analysts polled by Bloomberg have an average price target of $212.79, which would translate to a market cap of $1.046 trillion.

We'll be monitoring Apple's stock price closely to see if it's able to really become the first trillion-dollar company. Its shares remained close to the record $207.05 throughout the day. Under CEO Tim Cook, Apple also has embraced the internet, with its thriving services business helping propel the company toward the new milestone. But that peak coincided with a Chinese stock-market bubble, and PetroChina's shares would lose $800 billion in value over the next 10 years.

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This makes Apple worth more than the economies of countries such as Saudi Arabia, Switzerland and Taiwan.

A filing with the SEC yesterday showed Apple had revised its share count at 4,829,926,000 on 20 July, less than the 4,842,917,000 it reported on Tuesday for the end of the June quarter due to share buybacks.

"Apple's $1 trillion cap is equal to about 5 percent of the total gross domestic product of the United States in 2018", said David Kass, professor of finance at the University of Maryland.

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