How Apple became the first American publicly traded company to reach...

How Apple became the first American publicly traded company to reach $1 trillion valuation

A company that started in a garage more than four decades ago became the first American publicly traded company to reach a $1 trillion valuation.

03 Ağustos 2018 - 09:20

Shares hit $207.05 midday Thursday to crack the historic milestone. There have been expectations in the past that the company’s value would hit this level, but the path has been far from certain.

In April, Apple’s stock hovered in the $160-$170 range amid worries of lowered demand for iPhones, Apple’s flagship product that accounts for over 60 percent of its revenue.

Earlier this week, the company released its third-quarter earnings report. According to Apple CEO Tim Cook, it was “Apple’s best June quarter ever and our fourth consecutive quarter of double-digit revenue growth.” Revenue increased 17 percent to $53.3 billion.

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