Apple Inc. becomes first US public trading company to cross USD 1 trillion barrier
On Thursday, Apple Inc scripted history by becoming the first American public company to reach the USD 1 trillion mark.
The company reached a new all-time high of 207.05 dollars per share on Thursday, as a rise in its share price pushed it past the landmark valuation.
Share prices surged after the tech giant reported earnings that exceeded expectations on Wednesday. Also, the solid sales of iPhone 8 and X in China and Japan have been dubbed as a big reason behind this achievement.
For reference, the company's stock market value is now bigger than the economies of most countries. It is worth more than a third of the UK economy and larger than the economies of Switzerland and Turkey. However, the Wall Street believes that Apple shares could go even higher as thirteen analysts have a price target of above 225 dollars.
The next company expected to cross the threshold is Amazon, currently valued at nearly USD 900 billion. Tech giants Google and Microsoft are worth more than USD 800 billion dollars.