Apple becomes first trillion-dollar company

Apple Buybacks May Total $21 Billion in Q2

Apple has become the world's first public company to be worth $1 trillion.

The company's share jumped by more than 8% this week after it reported impressive quarterly earnings on Tuesday, driven largely by increase in sales of iPhones. Apple which is also considered as one of the most valuable company has emerged as the first company in United States stock market history to reach $1 trillion market valuation.

The price of Apple moved above $207.04 and in the process, took the market capitalization to $1 trillion. Analysts polled by Bloomberg have an average price target of $212.79, which would translate to a market cap of $1.05 trillion.

PetroChina, the world's fourth biggest oil company by revenue, was the first company to pass the $1tn mark in 2007.

The rise is even more astonishing - 50,000% - since the company first listed in 1980.

That would put Apple's stock market value at $973 billion, based on its newly disclosed number of shares. Amazon had the second-largest USA market cap as of Wednesday, at roughly $872.5 billion. Shares of Apple this week traded at about 15 times expected earnings, compared to Amazon at 82 times earnings and Microsoft at 25 times earnings.

April 1976: Jobs, Wozniak and Ronald Wayne create Apple Computer to sell an eponymous computer hand-built by Wozniak.

Hot on Apple's heels is Amazon.com, the second-largest listed US company by market value, at around $880 billion, closely followed by Google-owner Alphabet and by Microsoft.

Apple's fortunes, by contrast, seem brighter. Since Jobs' death seven years ago, Apple has continued its remarkable growth trajectory.

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