Apple just became the first $1 trillion public company

Apple just became the first $1 trillion public company

Apple has become the world's first publicly traded company to be valued at $1 trillion.

The iPhone maker's market capitalisation reached the figure in afternoon trading in NY as its shares rose above $207. The gains came after the iPhone maker reported strong earnings late Tuesday that prompted a two-day rally in the share price.

Apple's stock has risen more than 50,000% since it first listed in 1980.

iPhone sales grew by 1 percent, but Apple's revenue increased by 20 percent, with Apple reporting an annual revenue of $53.3 billion.

The $1 trillion milestone is largely symbolic, though impressive.

PetroChina, the world's fourth biggest oil company by revenue, was the first company to pass the $1tn mark in 2007.

But Cook has gradually won accolades from investors by pumping out a series of solid financial results and further spreading Apple's products to China and other foreign markets.

The tech company, launched in 1976 in a Los Altos garage, revolutionized personal computing - popularizing experimental technologies developed in the Xerox Parc research labs, such as the mouse and graphical user interface.

For what it's worth, Apple's trillion-dollar debut comes during one of the company's highest heights in terms of products. Amazon had the second-largest U.S. market cap as of Wednesday, at roughly $872.5 billion.

The market cap is the company's total market value, calculated by multiplying the value of its stock times all shares outstanding.

The tech giant's stock jumped 2.8% to as high as $207.05 in afternoon trading in NY.

Cook's hiring may have been one of the best things Jobs did for Apple.

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