Technology
Apple hits $1 trillion market cap
Getty
- Apple is the first publicly-owned company to reach a $1 trillion market capitalization.
- The market cap is the company’s total market value, calculated by multiplying the value of its stock times all shares outstanding.
Apple just became the first company to be worth $1 trillion on the public markets.
The milestone was crossed when Apple’s stock hit $207.05 share, and comes just days after Apple reported its third quarter fiscal earnings. Those earnings beat Wall Street expectations on the top and bottom lines, but iPhone sales fell slightly short.
Apple’s fast-growing services business —which includes Apple Music, iCloud, and the App Store — as well as strong hints that a new iPhone launch is in the cards for the coming months, appears to have bolstered investor confidence.
Meanwhile, rivals like Microsoft, Amazon, and Google parent company Alphabet also appear to be on the fast-track to $1 trillion, meaning that Apple will likely soon have some company in this club.
It’s rumored that Apple is expected to launch three new iPhones this fall — a second generation iPhone X, an iPhone X with a larger 6.5-inch screen, and a lower-cost iPhone model with a 6.1-inch screen. The two X models are expected to have OLED screens, while the cheaper model is rumored to have an LCD screen.
-
Entertainment5 days ago
‘Furiosa: A Mad Max Saga’ review: George Miller’s blazing action folktale might just have outdone ‘Fury Road’
-
Entertainment6 days ago
‘House of the Dragon’ Season 2 trailer breakdown: Dragons, Rook’s Rest, and more
-
Entertainment6 days ago
Sex education is under threat in the UK. What’s going on?
-
Business5 days ago
Orange Charger thinks a $750 outlet will solve EV charging for apartment dwellers
-
Business4 days ago
Colab’s collaborative tools for engineers line up $21M in new funding
-
Business4 days ago
A US Trustee wants troubled fintech Synapse to be liquidated via Chapter 7 bankruptcy, cites ‘gross mismanagement’
-
Business5 days ago
Senate study proposes ‘at least’ $32B yearly for AI programs
-
Entertainment6 days ago
The women getting guys to rate their nudes on Reddit