Apple hits $1 trillion stock market valuation

Sales of the Apple iPhone have transformed the business over the past decade

The Nasdaq finished decisively higher on Thursday (Aug 2) as Tesla shares enjoyed huge gains following earnings and Apple became the first private company to hit US$1 trillion in market value.

Apple is the first US company to reach $1 trillion in market value - arguably the first company ever - and even left-wingers like Alexandria Ocasio-Cortez and Bernie Sanders should think that's pretty awesome.

The milestone was crossed when Apple's stock hit $207.05 share, and comes just days after Apple reported its third quarter fiscal earnings.

Apple is the first US company to hit the $1T milestone; here's why AAPL shares can climb even higher. "The question now is not [whether we] can we turn around Apple", he said in an early internal meeting. I think the best way to look at this market is that there will soon be only two major players, Amazon and Microsoft, and then a bunch of smaller players.

Mega-cap tech giants like Amazon, Microsoft, and Google's parent, Alphabet, were also in the race to $1 trillion, but none could beat Apple in the end.

President Trump asked John Kelly to remain chief of staff through 2020
That's according to three White House officials Tuesday, who were not authorized to speak publicly about private conversations. Today we celebrate his first full year as @WhiteHouse Chief of Staff! He writes: "Congratulations to General John Kelly ".

Apple was founded in the late 1970s by Steve Jobs and went public in 1980 after helping usher in the era of the personal computer.

In addition to device sales, Apple's services and software revenue reached a new milestone during the June quarter; this encompasses iCloud, Apple Pay, Apple Care, iTunes, and more.

And seems like Apple is not the only one to surpass the $1 Trillion mark. It now accounts for 4 percent of the S&P 500.

He took over after the death of founder Steve Jobs, who was identified with launching many of Apple's most iconic products, including the iPhone smartphone and the iPad tablet. It's now the hub for a growing services business that the company hopes will pull in $50 billion in revenue a year by 2021. It also announced that it had used some of its huge pile of cash to buy back shares worth billions. Therefore, Apple still needs to grow further in a bid to become the world's most valuable company in history. Stock in the technology company reached the huge number during trading on Thursday.

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