Trade fight weighs on world stocks; Apple milestone boosts US

Ann Santiago
August 3, 2018

Apple, the world's most valuable publicly traded company, became first to reach the milestone $1 trillion market value.

The tech company's stock jumped 2.8% to as high as $207.05, bringing its gain to about 9% since Tuesday when it reported June-quarter results above expectations and said it bought back $20 billion of its own shares.

Adjusting for four stock splits over the years, Apple debuted on the stock market for the equivalent of 39 cents a share on December 12, 1980, compared to Thursday's high of $207.05. "I guess you wouldn't have put your money on Apple being the victor prior to the iPhone".

But there's no law against a company being worth more than $1 trillion.

If Apple hits a growth wall in coming years, it's not hard to imagine the company facing similar calls to justify its climbing research-and-development bills.

U.S. tech companies make up the top 5 most valuable enterprises based on share prices.

Here's one: today, Apple became the first United States company to surpass a total market capitalization of $1 trillion (trillion as in a thousand billions). "Given our confidence in Apple's future, we are very happy to announce that our Board has approved a new $100 billion share repurchase authorization and a 16 percent increase in our quarterly dividend", he added.

The peak reached on Thursday seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1.

And Saudi Arabian Oil Co., known as Saudi Aramco, is planning an initial public offering that Saudi officials have said would value the giant oil company at about $2 trillion.

We'll be monitoring Apple's stock price closely to see if it's able to really become the first trillion-dollar company.

October 2001: Apple unveils the iPod and opens its first real-world shops.

Canada's entire gross domestic product (GDP) is valued at about 1.7 trillion dollars right now. "It's one of those things that does not mean anything by itself... it's more a testimony of the importance of Apple on the market".

Independent technology analyst Rob Enderle said Apple's trillion-dollar valuation defied financial trends in recent quarters and potential defeat in a legal battle with Qualcomm over mobile chips.

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