Apple has become the first US company with a market cap of over $1 trillion.
This follows a jump in its stock after reporting strong Q3 earnings that saw the iPhone maker surpass both its own projections and analysts’ estimates, while also making a strong forecast for its upcoming Q4 earnings.
Apple hit the $1 trillion mark early this morning when its stock crossed $207.05 per share at 11:48am "ET" ( the stock has since dropped back down slightly ).
Given the volatile nature of the market, however, it’s possible Apple may not stay a $1 trillion company for very long, or it could bounce back and forth over the $1 trillion mark in the coming days, It technically also isn’t the first to hit $1 trillion, either — PetroChina briefly reached $1 trillion back in 2007, although the stock soon → fell below that mark, But for all intents and purposes, Apple is the first US-based and for now the only trillion-dollar company on the market, It likely won’t be there alone for long, though: Amazon is also on the verge of hitting the $1 trillion mark after its own positive Q3 results. Of course, all of this is an arbitrary milestone based on humans’ general tendency to put more weight on nice-looking round numbers as some kind of goal.
There’s really no practical difference between Apple’s worth of $999 billion and $1 trillion since it’s still an almost impossibly wealthy and influential company beyond the comprehension of individual people.
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