Saturday, August 4, 2018

Apple: The Trillion Superstar

Apple’s market valuation surged past the $1 trillion point on Thursday – the first time in history a company has reached that level. 

Shares surged 2.5 percent that afternoon but fell back – and taking the valuation back to $988 billion. 

The share price closed at $207.39 meaning that the company finished the day's trading worth more than $1 trillion. In fact, Apple's shares are up 23 percent so far this year. 

Apple’s feat seemed unimaginable in September 1997 when the company teetered on the edge of bankruptcy and founder Steve Jobs (left) rejoined the company – having been ejected in the mid-1980s. 

If I had dared to buy $10,000 worth of Apple stock at that point of desperation, my investment would now be worth about $2.6 million. Sigh, of course, this is a hypothetical situation.

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Anyway, the iPhone, which went on sale in the US of A in June 2007, dramatically changed the fortunes of the company. 

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The Silicon Valley stalwart's stock has surged more than 50,000 percent since its 1980 initial public offering. 

In becoming the very first company to ever reach a market valuation of $1 trillion, Apple join an exclusive roster of companies that have made history in market valuations in the past. 

That group includes the likes of Microsoft – which was the first to reach a market valuation of $500 billion – as well as IBM ($100 billion), General Motors ($10 billion), and US Steel ($1 billion).

Congratulations, Apple!

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