Apple Inc. has held the prestigious position of being the most valuable company in the world for some years now. On Thursday, the Cupertino giant made history by becoming the first publicly traded US Company to be valued at more than $1 trillion. Its shares reached a record high of $207.39 and have been travelling upwards since.
Rewind 21 years back, Apple was on the brink of bankruptcy with failing products and poor management. But thanks to the ingenuity of its founder – Steve Jobs, the company bounced back to its feet and has been growing steadily up till the climax of being valued at $1 trillion.
Apple has succeeded in creating a whole ecosystem of amazing products over the years including its iPhone, iPad, Apple Watch and MacBook laptops. Since the sale of the first iPhone in 2007, Apple shares have grown at an astonishing rate of 1,100% and a mammoth 50,000% since the company first listed itself on the stock market in 1980.
The iPhone redefined the way people interact with technology and quickly became Apple’s cash cow with more than 1.4 billion units sold since it was introduced in 2007.
Amazon, Google and Microsoft are right behind Apple and also closing in on the trillion dollar mark. Amazon is worth about $900 billion while Google and Microsoft are each now worth more than $800 billion.
Apple is not the first publicly traded company in the world to surpass the trillion dollar mark though. Oil giant PetroChina (PTR) attained the trillion dollar valuation in 2007 when its stock began trading in Shanghai, but shares quickly plunge afterwards and are now valued at about $205 billion.
Feature image: theguardian.com
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