Apple Becomes World's 1st Private-Sector Company Worth $1 Trillion

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Apple has become the first trillion dollar company today after its stock price soared on the back of excellent financial results.

The iPhone-maker's shares struck an all-time high of $207.05 during trading in NY, pushing its market capitalisation past the landmark trillion-dollar level to $1.02 trillion. It now accounts for 4 per cent of the S&P 500.

With a market cap of $1 trillion, Apple has a value greater than the gross domestic product of most countries in the world, including Turkey, Switzerland, Saudi Arabia and Taiwan.

The Silicon Valley stalwart's stock has surged more than 50,000 percent since its 1980 initial public offering, dwarfing the S&P 500's approximately 2,000-percent increase during the same nearly four decades.

The company's fortunes were turbocharged by the launch of personal gadgets such as the iPod in 2001 and the iPhone in 2007.

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The creator of the ubiquitous iPhone is up more than 25 percent this year. Recently, some of his older clients have bought Apple shares for their grandchildren.

Adjusted for splits, Apple's stock price has risen almost 40,000% since its initial public offering in 1980.

Apple crossed the threshold in Thursday trading following a strong third-quarter report that showed earnings beat expectations and also showed increased revenue from the technology giant's services and software businesses. Amazon is valued at $870 billion, Google-parent Alphabet has a market valuation of $850 million and Microsoft's market cap is at just under $815 billion.

That would put Apple's stock market value at $973 billion, based on its newly disclosed number of shares.

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