What seemed to be once unthinkable is now a reality: with Apple's stock price hitting an all-time high of $207.05 on Thursday, the tech titan has become the first listed USA company to boast of a trillion-dollar market valuation.
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. There's no fundamental difference between Apple being worth $999 billion and $1.01 trillion.
Amazon is now the second-largest publicly-listed USA company, with a market capitalization of $889 billion, followed closely by Alphabet and Microsoft, at $856 billion and $830 billion respectively.
The landmark is the latest victory for Tim Cook, who faced skepticism when he took over as chief executive in 2011 from ailing iconic co-founder Steve Jobs.
As bullish as Jackson is on Apple, he admitted China ー and consumers in other countries ー may stunt the company's growth because the iPhone faces competition from cheaper smartphones.More news: Sanders Won't Dispute Claim That Media is 'Enemy' of People
Today Apple passed a significant milestone. Twenty-two years later, Apple just became the first corporation in history to eclipse a valuation of $1 trillion, following the decade-long success story that is the iPhone.
The first company to hit $100 billion in market capitalization was only able to do so 23 years ago. The company owes its success to a number of new and novel products that not only revolutionized the technology industry but, in many ways, changed the entire world.
Apple is the first US company to hit the $1T milestone; here's why AAPL shares can climb even higher. Shares of Apple this week traded at about 15 times expected earnings, compared with Amazon at 82 times earnings and Microsoft at 25 times earnings.
Turns out that trading things like lumber and maple syrup is just slightly more valuable than selling iPhones. Depending on who is doing calculations, the valuation of Saudi Aramco state-controlled oil and gas company is between $1.2 billion and $1.5 billion. Amazon had the second-largest USA market cap as of Wednesday, at roughly $872.5 billion.