Apple Wins the Trillion Dollar Race!

Ann Santiago
August 5, 2018

"Apple passed a significant milestone", the company's CEO crowed in an internal memo. Those equities were set up to be paid out over the term of 10 years, provided that Apple's stock growth consistently exceeds the S&P 500 index.

Let's take this moment to thank our customers, our suppliers and business partners, the Apple developer community, our coworkers and all those who came before us at this remarkable company. Steve Jobs' successor sent a company-wide memo to let them know about Apple being worth $1 trillion and focused on the emotional aspects of the achievement.

Apple's trillion-dollar market capitalization-the stock price per share multiplied by the number of outstanding shares-seems especially remarkable considering the company almost went bankrupt in 1997, but it's not the first time a company has hit the $1 trillion mark.

Behind Apple are Amazon, Google parent Alphabet, Microsoft and Facebook.

The strong rumors about Apple achieving the first $1 trillion public company honor started earlier in May this year, after the announcement of cheerful 2018 Q2 earnings call. One of three founders, Jobs was driven out of Apple in the mid-1980s, only to return a decade later and rescue the computer company from near bankruptcy.

Apple's recent strength, on a technical basis, can be tied to a successful defense of support at its 50-week SMA in April (see chart below).

(AAPL) on Thursday became the first USA public company to reach $1 trillion market valuation, but Chief Executive Officer Tim Cook said it was "not the most important measure" of the company's success. Since then, Apple shares have increased by 1,100 per cent, and have grown by nearly a third in just the past year.

"China is a challenge, for sure, probably the biggest challenge that Apple faces in that regard because you have other services like WeChat that can potentially get in between your personal relationship with the phone", Jackson said. "In today's world, our mission is more important than ever", Cook said.

"Steve (Jobs) 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".

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