Apple Reaches A Market Value Of $1 Trillion

                   

  

 Apple, which already held the crown as the nation's most-valuable company, made Wall Street history Thursday when it became the first publicly traded U.S. corporation to reach a market value of $1 trillion.


Apple, whose stock is owned by investors ranging from billionaire Warren Buffett to mutual fund giant Vanguard to millions of working Americans through funds owned in their 401(k)s, passed the milestone days after reporting another stellar quarter, highlighted by a jump in revenue to $53.3 billion and the sale of 41.3 million iPhones.

The iPhone maker broke the $1 trillion barrier when its stock briefly hit the magic share price of $207.05, according to Nanex, which supplies market data to the financial industry. Online brokerage TD Ameritrade said the history-making trade occurred at 11:48 a.m. ET.

“Apple has gone where no company has gone before,” says Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

The individual company milestone follows an extraordinary stretch of tech innovation and arrives as the bull market for stocks, now more than nine years old, looks to overtake the 1990s bull as the longest in history later this month.

Apple won the race to $1 trillion, edging out rivals, such as Amazon (whose market cap was $877 billion as of Tuesday's close, according to S&P Dow Jones Indices), Google parent Alphabet ($858 billion) and Microsoft ($817 billion), the other main contenders that were racing the iPhone and iPad maker to reach the milestone.

“This feat,” says Hickey, “is a reflection of just how strong a company Apple is.”

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