Apple reaches $1,000,000,000,000 value

Apple becomes world's first trillion dollar company

Oil giant PetroChina briefly topped a trillion dollar valuation in 2007 when its stock began trading in Shanghai, but shares quickly plunged afterward.

The tech company, launched from a garage in 1976, has been on a steady climb through the years, revolutionizing personal computers and phones with its Macs and iPhones.

A year ago its sales hit $229bn, with profits of $48.4bn, making it the most profitable listed USA company.

Other technology companies with high-flying, trendy stocks are expected to join Apple in the $1 trillion club before long.

Apple Chief Executive Tim Cook has a trillion reasons to smile. "A clean beat on the path to $1 trillion".

Adjusted for splits, Apple's stock price has risen almost 40,000% since its initial public offering in 1980.

A filing with the SEC yesterday showed Apple had revised its share count at 4,829,926,000 on 20 July, less than the 4,842,917,000 it reported on Tuesday for the end of the June quarter due to share buybacks.

Even with its US$1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive. Since 1980, IBM, Exxon Mobil, General Electric and Microsoft have also alternated as the largest publicly listed U.S. company.

The race to a $1 trillion market cap - symbolic as it is - has been closely watched on Wall Street. Apple's market capitalization - a common financial measure of worth which multiplies the number of shares by the share price - makes the company worth more than the economies of, for example, Saudi Arabia, Switzerland and Taiwan.

Amazon, Google owner Alphabet and Microsoft have all rallied to near record highs this year, too.

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