Reported by CNBC, Apple climbed and reached the company value of a whopping $1 trillion on Thursday, 2nd August 2018. This achievement was hit just a few days after Apple had announced its best third quarter earnings in the company’s history.
As reported by CNBC:
The stock gained 2.92 percent during trading after a strong fiscal third-quarter earnings report earlier this week to close at $207.39. It reached the trillion-dollar milestone just before noon ET with a share price of $207.05, based on a recently adjusted outstanding share count of 4,829,926,000 shares.
Amazon was first predicted to reach the $1 trillion point, as it reached $900 billion this July, whereas Apple was stuck at $900 billion since November 2017, and struggled to increase by $100 billion until now.
Apple announced on Tuesday that it sold 41.3 million iPhones between April and June, totaling a revenue of $53.3 billion, overcoming Wall Street’s expectations. Resulting in a rise of 17 percent in revenue year-over-year.
As mentioned by Cook,
We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said Tim Cook, Apple’s CEO. “Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”
But its not only Apple who reached the $1 trillion worth. China’s PetroChina Co has also reached that milestone, although most of the company’s shares are with the government.
Heres a video by CNBC delivering further information on Apple’s amazing success