Apple's Market Cap Hits $1 Trillion

Apple Stock Buyback Tops $20B In Second Quarter

The trillion dollar trophy can only bring more scrutiny and even higher expectations.

An intensifying trade dispute between the United States and China weighed on global stocks and bond yields on Thursday, but a rise in Apple shares took its valuation above a record $1 trillion and helped major USA indexes close in positive territory.

The stock formally closed at $207.43, giving the company a valuation just a fraction north of $1 trillion. It is the first publicly-listed U.S. company to reach that milestone.

Microsoft helps Apple survive with a $150 million investment.

Apple first listed in 1980 and its stock has risen more than 50,000% since then. The value of Microsoft is also more than $800 billion.

Apple's stock has risen over 30 percent in the past year, fueled by optimism about the iPhone X, launched a decade after the original.

Apple's Earnings Per Share (EPS) grew by 40 percent year over year, and revenue grew by 17 percent year over year. This made it hard to determine the company's actual value.

Like the four-minute mile or breaking the sound barrier, the idea of a company with a market capitalization - the share price multiplied by the number of outstanding shares - of more than a trillion dollars was once nearly unthinkable. One of his biggest coups came in 1998 when he lured a soft-spoken Southerner, Tim Cook, away from Compaq Computer at a time when Apple's survival remained in doubt.




Cook told analysts that Apple is on track to meet a goal of doubling fiscal 2016 services revenue by 2020.

As with other landmarks - such as the Dow crossing 25,000 points for the first time - the Apple record is significant because of its resonance beyond the financial universe.

That has raised concerns that Apple has become far too dependent on the iPhone, especially since iPad sales tapered off several years ago.

Cook has put a focus on digital content and services, positioningAppleto make money from music, movies, apps, subscriptions and more - all sold to the vast "install base" of people using devices made by the company.

June 2007: Apple unveils the iPhone.

Apple's services division alone is on pace to generate about $35 billion in revenue this fiscal year - more than all but a few dozen USA companies churn out annually. It's since fallen slightly, but not enough to knock Apple back down into the billions.

As Bloomberg pointed out, the number of shares outstanding has been falling about 1.3% per quarter as Apple buys back its shares.

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