Apple is 1st Public US Company to be Valued at $1 Trillion
Apple made history Thursday when it became the first publicly listed U.S. company to be valued at $1 trillion.
The tech giant’s share price climbed well over 2 percent in mid-session trading, boosting it about 9 percent higher since Tuesday, when it announced better-than-expected second-quarter earnings and a buyback of $20 billion worth of its own shares.
The Silicon Valley company’s stock has skyrocketed more than 50,000 percent since it went public in 1980, greatly exceeding the S&P 500’s impressive 2,000 percent gain during the same period.
Apple’s success was fueled in large part by its iPhone, which transformed it from a niche player in the burgeoning personal computer sector into a global technological powerhouse.
The company was co-founded by the late Steve Jobs, a product innovator who helped prevent the company’s collapse in the late 1990s.
As the company’s market value climbed over the decades, it revolutionized how consumers communicate with each other and how companies conduct business on a daily basis.
