Wall Street eyes more gains from Apple, its $1 trillion stock

Wall Street eyes more gains from Apple, its $1 trillion stock

Wall Street eyes more gains from Apple, its $1 trillion stock

What seemed to be once unthinkable is now a reality: with Apple's stock price hitting an all-time high of $207.05 on Thursday, the tech titan has become the first listed USA company to boast of a trillion-dollar market valuation.

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At press time Apple's stock cost $206.90 and its market capitalization was $1.017 trillion.

Today Apple Inc. surpassed the $1 trillion dollar mark in value, showing once again that it is the dominant force when it comes all the companies out there today.

Apple has become the first United States company to reach a market cap of over $1 trillion.

"Our strong business performance drove revenue growth in each of our geographic segments, net income of $11.5 billion, and operating cash flow of $14.5 billion", said Luca Maestri, Apple's CFO.

With over 1 billion Apple devices in daily use, the traction this ecosystem provides ensures that the company will have dependable returns regardless of market conditions.

"They are so dependent on one product for such a huge part of their revenue that I believe that's why it gets that discount", said Miller whose firm also owns Amazon shares.

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The feat was achieved momentarily by PetroChina in 2007, after a successful debut on the Shanghai Stock Exchange that same year.

Apple generates billions from hardware sales: It had $29.9 billion in iPhone sales, up 20% year over year, for the June 30 quarter.

Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges - and that the people who are insane enough to think they can change the world are the ones who do.

The outspoken star believes he is "undoubtedly" one of the most influential people in the world and likened himself to Jobs because of his power in the music and fashion industries.

And in 5 years maybe Canada will be worth less than the company that sold you your phone.

In a memo to Apple's more than 120,000 employees on Thursday that was seen by Reuters, Chief Executive Tim Cook said the $1 trillion valuation was "a significant milestone" that gave Apple employees "much to be proud of". Amazon's in second place, with a market cap of $884.86 billion, and good ol' Google (well, Alphabet, technically) is in third at $854.49 billion.

Now, the non-hardware services category is fueling Apple's continued growth.

Wall Street thinks Apple shares can go even higher too.

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