$1,000,000,000,000 - Apple becomes first tech firm to cross this milestone!

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

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

Indeed, as we pointed out yesterday, the company managed to grow its revenue by a whopping 17 percent year-over-year to a total of $53.3 billion in the third quarter of 2018. It's just the number of shares multiplied by the share price.

Apple on the other hand is the first non-state-owned company to reach this stratospheric valuation on its own merits without implicit government guarantees or backing. As we pointed out yesterday, the valuation itself doesn't mean much, but it goes to show just how drastic of a turnaround Apple was able to make just a couple of decades after being on the brink of going under. Cook is celebratory in his reaction to the news, but reminds his team that a share price is "not the most important measure of our success".

Jobs remained mercurial when he returned to Apple, but he had also become more thoughtful and adept at spotting talent that would help him create a revolutionary innovation factory.

The Masters of the Obvious over at Gartner this week confirmed what has been obvious for years, noting that Microsoft is number two in cloud services behind market leader Amazon. Microsoft, from which Apple snatched the title of most valuable company in 2012, is at $827.53 billion today.

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Since the iPhone first went on sale in 2007, Apple shares have soared by 1,100% and have jumped nearly a third in the past year.

Dark horses, they were considered. PetroChina (PTR), the Chinese oil giant, topped the trillion-dollar mark on its first day of trading in 2007, but the stock collapsed soon thereafter.

"Alphabet's pace of growth simply isn't as impressive as Amazon's and Apple's". And Fortune said, "By the time you read this story, the quirky cult company...will end its wild ride as an independent enterprise". It has dipped after reaching the milestone and trades at $206.09 now. And it has a vote of confidence from some analysts. The Company boasted a revenue of $61.1 billion, a 15% increase from the year-ago quarter. The social media giant's market cap has sunk to $492.46 billion, and it may take some time for them to hit a trillion. So who's going to pay for it?

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