Apple— the tech company behind iPod, iPhone, Macbook, and Apple Music — has hit another milestone by becoming the first private-sector company to surpass $1 trillion in market value.
On Thursday (August 3rd), shares of Apple finished the formal Wall Street trading day at $207.39, topping the magic number two days after the California tech giant reported strong quarterly earnings.
Steve Jobs founded Apple in a Silicon Valley garage in 1976 with Steve Wozniak and built it into the global powerhouse it is now. After his death in 2011, analysts and other industry watchers wondered whether the company would lose its ability to wow the world with “the next big thing.” But current CEO Tim Cook has gradually won accolades from investors by pumping out a series of solid financial results and spreading Apple’s products to China and other foreign markets.
“Of course I’m proud of Apple, but I don’t measure the world by human simplifications like round numbers,” co-founder Wozniak was quoted as telling Yahoo Finance. US tech companies have cemented their position in the broader market, now making up the top five most valuable enterprises based on share prices.
Behind Apple are Amazon, Google parent Alphabet, Microsoft and Facebook.
Apple also released a kit for developers to create augmented-reality experiences on iPhones or iPads, saying that “overnight iOS became the biggest AR platform in the world.”
“At the core, I think Apple’s biggest revolution has been putting consumer experience first and making technology simple,” said Creative Strategies analyst Carolina Milanesi.