Apple CEO Lauds Staffers For Trillion-Dollar Value 08/06/2018

  • Apple CEO Lauds Staffers For Trillion-Dollar Value 08/06/2018

Apple CEO Lauds Staffers For Trillion-Dollar Value 08/06/2018

Apple on Thursday became the first publicly traded United States corporation to reach a market capitalization of $1 trillion, beating other tech giants, such as Amazon, Alphabet and Microsoft, in the race to reach the milestone.

Apple flooded news headlines everywhere yesterday as its market value crossed $1 trillion for the first time after reporting handsome quarterly earnings.

The Cupertino, California-based company earned $2.34 per diluted share in its fiscal third quarter, up 40 percent from the same period in 2017.

Apple co-founder Jobs envisioned breakthrough hardware and software architecture where the Apple users never have to leave the company's ecosystem. It also boasts of becoming the first company to hit $800 billion when reached the milestone in May.

It's official-Apple is now the first $1 trillion publicly listed US company, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.

Behind Apple are Amazon, Google parent Alphabet, Microsoft and Facebook.

"China is a challenge, for sure, probably the biggest challenge that Apple faces in that regard because you have other services like WeChat that can potentially get in between your personal relationship with the phone", Jackson said.

However, now Wall Street anticipates Apple shares to go more upwards of up to $225. While year-over-year iPhone sales increased by just 1% this past quarter, iPhone-based revenue jumped by a whopping 20%. But he said it was "not the most important measure" of the company's success.

"Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to our values", Cook noted. Apple's stock has climbed by 23 percent so far this year, compared to a 6 percent gain for the Standard & Poor's 500 index.

Average analyst price targets put Apple's stock market value at $1.05 trillion, Amazon at $1.02 trillion, Alphabet at $970 billion and Microsoft at $953 billion, according to Thomson Reuters data.

For Cook, more important than growing your company's public market valuation to a particular level is the ability to create a world-class team committed to the success of the company.