Apple reaches $1000000000000 value

Why Apple is inches away from $1 trillion valuation

Ramping up the competition against regional heavyweight Samsung, Apple looks set to continue its growth across the Middle East following Thursday's announcement that it had passed the $1 trillion valuation threshold, becoming the first publicly traded company to reach the milestone.

The feat has of course been a race because the stock market's top 10 is now dominated by tech companies, with Amazon topping $900 billion in market cap and Google and Microsoft worth more than $800 billion.

"We think the lesson Apple's management has learned from the iPhone X [which retails from £999] is when you sell a smartphone for more than $1,000 you can sell fewer units and still reap the financial benefits", DA Davidson analyst Tom Forte said.

As with other landmarks - such as the Dow crossing 25,000 points for the first time - the Apple record is significant because of its resonance beyond the financial universe.

The milestone marks the triumph of stylish technology that has redefined what we expect from our gadgets ever since two mavericks named Steve started the company 42 years ago.

"That puts this company in perspective". This showed a growth of 17 percent year-over-year for the company despite a decrease in Mac sales and a generally flat sale rate of iPads.

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The tech titan on Thursday became the first company in the world to reach a $1 trillion valuation.

The iPhone maker was named as the only publicly listed U.S. company to be valued at $1,000,000,000,000 just before 5pm this afternoon.

On Tuesday, the company said Apple Services, which includes things like the App Store and Apple Music, saw a 31% jump in revenue.

The landmark is the latest victory for Tim Cook, who faced scepticism when he took over as chief executive in 2011 from ailing iconic co-founder Steve Jobs.

And Netflix Inc. (Nasdaq: NFLX), the company's main competitor in the development of streaming content, has a P/E ratio of 155 - despite having a market cap almost a ninth the size of Apple's. Apple is now up more than 20% this year. With the company pretty much taking over the world with the iPod and several subsequent revolutionary products, it's no surprise that they have just become the first publically-traded company to be valued at over $1 trillion.

Hot on Apple's heels is Amazon.com, the second-largest listed USA company by market value, at around $880 billion, closely followed by Google-owner Alphabet and by Microsoft.

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