Apple is now more valuable than most countries in the world.
The tech giant created history on Thursday by becoming the first company in the world to value over $1 trillion. Apple reached the covetous milestone when its stock price climbs to over $207.04, CNN Money reported. The company’s stock price per share now hits an all-time high of $208.38, and it is projected to climb even higher. Its stock price is up more than 20% this year alone showing just how strong and attractive to investors this company is.
Last month, a story came out that Apple is nearing the trillion dollar mark and is projected to become the first publicly traded company in the world’s history to achieve that mark. It didn’t take long for Tim Cook and his shareholders to start celebrating. The stock begins to climb on Wednesday when Apple announced stronger than projected revenue and a healthy overall outlook as it gets ready to launch its next-generation iPhone in September.
In the late 1990s, this feat was unimaginable as the company struggle and was near bankrupt. Back then the company’s stock was being traded at under a $1 per share. But Steve Jobs took over the reigns and went on to launch a series of innovative products and software including the revolutionary iPod and iPhone that would change the way we view and interact with technology in our daily activities.
The race to a trillion dollar was being fought by two American tech giants, Apple and Amazon. But it seems Apple stood out in the end as the most valuable tech company and overall company in the world. Amazon and its founder Jeff Bezos can still hold their heads high with a strong valuation of $874 billion. It might not be long before Amazon too hit a trillion dollar evaluation since the company has been growing exponentially fast over the last few years.
Congratulations to Apple and Tim Cook.