Apple hits $1 trillion market cap, the first US company ever to hit milestone [u]
The day after its stock hit the $200 mark, Apple became the first $1 trillion U.S. company in history, beating Amazon to earn the first 12-figure company valuation in the history of business.
Apple, following strong third quarter earnings, on Thursday became the first company in history to be valued at $1 trillion. The company's stock rose 5 percent in the 24 hours after the earnings announcement, passing the $200 mark on Wednesday for the first time since its stock split four years ago.
The company on Wednesday revealed an adjusted share count of 4,829,926,000, meaning that the stock was required to reach $207.05 in order to hit the $1 trillion value, CNBC reported. The previous number was thought to be $203.45.
Some stock tickers Thursday morning had listed Apple's valuation as over $1 trillion, but they appeared to be going by the previous share number. At just before noon eastern time, the stock hit the threshold to make it the first to hit the milestone.
Throughout the summer, Apple had been locked in a battle with Amazon over which would become the first company to hit $1 trillion, but it became apparent earlier this week that Apple was pulling ahead.
Update: Apple closed the day above $1 trillion -- $1.002 trillion -- and is holding steady in after-hours trading.
Apple, following strong third quarter earnings, on Thursday became the first company in history to be valued at $1 trillion. The company's stock rose 5 percent in the 24 hours after the earnings announcement, passing the $200 mark on Wednesday for the first time since its stock split four years ago.
The company on Wednesday revealed an adjusted share count of 4,829,926,000, meaning that the stock was required to reach $207.05 in order to hit the $1 trillion value, CNBC reported. The previous number was thought to be $203.45.
Some stock tickers Thursday morning had listed Apple's valuation as over $1 trillion, but they appeared to be going by the previous share number. At just before noon eastern time, the stock hit the threshold to make it the first to hit the milestone.
Throughout the summer, Apple had been locked in a battle with Amazon over which would become the first company to hit $1 trillion, but it became apparent earlier this week that Apple was pulling ahead.
Update: Apple closed the day above $1 trillion -- $1.002 trillion -- and is holding steady in after-hours trading.
Comments
Consider that the company was nearly bankrupt 20 years ago. Jobs is surely smiling up there today.
As long as as second, eh?
Not bad.
The obsession with this trillion dollar company thing is getting ridiculous.
Some people are obsessed alright, the haters that’s for sure.
UPDATE: Buddhist
But sure, a Trillion is a huge milestone, and I'm not unhappy that Apple was the one to make it. They're still underdogs on Wall Street and while that is weird, it doesn't really matter. They did it the old-fashioned way, and not on hype.
Das ist nicht "Buddhist"
verklempt | fərˈklemt |
adjective North American informal overcome with emotion: she was all verklempt earlier this week over her latest split from her husband.
ORIGIN from Yiddish farklempt, from German verklemmt, literally ‘pinched, squeezed’.
I don't own any Apple stock, so financially this news makes no difference to me one bit.
However, just knowing that all the lowlifes (haters, trolls.....) are fuming over this makes me smile a little bit.
Remember the little dig Jobs got in the day Apple’s market cap passed up Dell’s? He sent a company wide email announcing the event and even tried to be magnanimous about it but it still had the sweet taste of revenge after Michael Dell’s famous advice to sell the assets and shut it down. And as Klingon culture dictates revenge is a dish best served cold.