Apple is now a $1 trillion company
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Apple has become the first US company with a market cap of more than US$1 trillion overnight, with a jump in stock prices pushing the company past the historic milestone.
Following the tech giants Q3 earnings report in which it found a quarterly revenue of US$53.3 billion, the “best June quarter ever, and our fourth consecutive quarter of double-digit growth”, according to Apple CEO Tim Cook, stock prices jumped from approximately US$190 to approximately US$200, continuing to climb to a high of US$207.
The large jump was enough to push the company over the line faster than Amazon, which is on track to reach a US$1 trillion market cap soon, currently sitting at approximately US$885 billion.
Given the nature of the stock market, it is entirely possible the company will fluctuate below and above US$1 trillion mark, but the feather is now well in Apple’s cap.
The company is not the world’s first US$1 trillion company though, with PetroChina having briefly reached the coveted position in 2007.
Questions & Answers
Q.What specifically caused Apple's stock price to jump and push them over the trillion-dollar mark?
What specifically caused Apple's stock price to jump and push them over the trillion-dollar mark?
The stock prices jumped following the tech giant's Q3 earnings report, which revealed a quarterly revenue of US$53.3 billion. This was described by the CEO as their 'best June quarter ever'.
Q.Has any other company, besides Apple, reached a US$1 trillion market cap historically?
Has any other company, besides Apple, reached a US$1 trillion market cap historically?
Yes, Apple is not the world's first US$1 trillion company. PetroChina briefly achieved this coveted position back in 2007, prior to Apple reaching the milestone.
Q.What is the likelihood of Apple's market cap remaining above US$1 trillion?
What is the likelihood of Apple's market cap remaining above US$1 trillion?
Given the nature of the stock market, it is entirely possible the company's market cap will fluctuate below and above the US$1 trillion mark. However, the article states the achievement is now 'well in Apple’s cap'.
Q.Which company is expected to be the next US company to reach a US$1 trillion market cap?
Which company is expected to be the next US company to reach a US$1 trillion market cap?
Amazon is currently on track to reach a US$1 trillion market cap soon. It is presently sitting at approximately US$885 billion, according to the article.
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