1,000,000,000,000,000,000! That’s the current worth of Apple Inc. in US dollars and the tech giant has become the first American company with a market cap of more than $1 trillion.
This impulsive rise in company’s market cap was seen after the price of company’s stock went up as Apple reported a strong Q3 earnings which enabled it to exceed not only its own expectations but even analysts’ estimates. With this weighty rise in the value of the company, there is no way that one can deny strong prospects for its upcoming Q4 earnings.The market cap of Apple touched $1 trillion mark when its stock crossed the figure of $207.05 per share at 11:48am ET on Thursday.
Looking to the volatile nature of the market, it is quite likely that the market cap of the company may not stay above $1 trillion for a long time or it may bounce back and forth the remarkable figure in the days to come. Moreover, Apple isn’t the world’s first company to reach this historical mark as PetroChina had already touched this milestone for a brief time way back in 2007, after which the value of its stock soon decreased making it move beneath that mark.Nevertheless, at present, Apple happens to be the first US-based and currently the only trillion-dollar company in the global economy.
However, there is all possibility that it won’t stand as the only trillion-dollar company for long enough as Amazon is also on the verge of hitting the trillion dollar mark after its strong Q3 results. In fact, touching the round figure mark of $1 trillion is in no way the goal of Apple or any other multi-million dollar company for that sake but it is just a natural human tendency to highlight and celebrate such nice-looking round numbers as a hallmark of success for any individual or company. The significance of $1 trillion as a number here is only to make the common people realize the real worth of Apple as an immensely influential company in the present modern times.