It’s official. Apple on Thursday became worth over $1 trillion. Yes, that’s right, $1 trillion. As in $1,000,000,000,000.
Apple chief executive Tim Cook has a trillion reasons to smile.
The tech titan on Thursday became the first company in the world to reach a $1 trillion valuation. It became the first $900 billion company exactly nine months ago, on Nov. 3, 2017.
The iPhone maker entered the rarefied air of a 13-digit market cap as its share price hit $207.05. It began an ascent Tuesday after reporting solid results in its latest quarter.
“Financial returns are simply the result of Apple’s innovation, putting our products and customers first, and always staying true to our values,” Cook wrote, according to Reuters, which saw a copy of the memo.
He also reportedly called back to Apple co-founder Steve Jobs in the memo. “Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges — and that the people who are crazy enough to think they can change the world are the ones who do,” Cook wrote.
Apple has been on a tear over the past few years. The company’s iPhone is one of the best-selling devices in the world, and Apple’s phones expected in September. At the same time, the company has been expanding into new markets like wearables, and revenue from its software and services, like Apple Music and the App Store, have been soaring.indicate it’s optimistic about the
Apple sold 41.3 million iPhones last quarter, and reported an average selling price of $724.