Apple is now worth 1,000,000,000,000. That’s $1 trillion. After the company’s stock hit $207.05 per share, Apple briefly became the first ever publicly traded U.S company to be worth $1 trillion. Apple’s worth will probably go below $1 trillion as the share price fluctuates.
The company’s stock has been on the rise (up by 9%) after reporting another quarter of continued iPhone growth. Apple made $53.3 billion this quarter in revenue, fueled by iPhone sales of 41.3 million units. While the company’s other products, like the Mac, struggled this year, the sustained iPhone sales have been helping the company grow for years now. That’s also helped Apple make money in other places, with its Services revenue growing by 31%, coming up to $9.6 billion.
The $1 trillion mark is a major milestone for the company. Wall Street has always been on the lookout for who will be the first $1 trillion company, but that’s come to an end now that Apple has won. Whew, now release a MacBook with a good keyboard, please, Apple.
Editor’s note: the article initially noted that Apple is the world’s first $1 trillion company, though that’s not the case as it’s only the first publicly traded US company to hit the $1t valuation. The story has since been corrected.