Apple is officially worth more than $1,000,000,000,000

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Apple is officially worth more than $1,000,000,000,000

"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.

What seemed to be once unthinkable is now a reality: with Apple's stock price hitting an all-time high of $207.05 on Thursday, the tech titan has become the first listed U.S. company to boast of a trillion-dollar market valuation.

The answer is nearly certainly yes.

At press time Apple's stock cost $206.90 and its market capitalization was $1.017 trillion.

Apple is the first publicly-owned company to reach a $1 trillion market capitalization.

But not all companies get big that way. Overall revenue rose 17%, to $53.3 billion, and profits, 32%, to $11.5 billion.

Behind Apple are Amazon, Google parent Alphabet, Microsoft and Facebook. And as long as these companies continue to generate long-term earnings growth - as virtually every analyst expects - their share prices will continue to rise over the long haul.

Evans did not expect anything surprising from Apple in the near future, with many "boring quarters" in store before the company unveils smart glasses or high-tech cars. Also propelling Apple higher in recent months was Apple's announcement that it earmarked $100 billion for a new share repurchase program.

The feat was achieved momentarily by PetroChina in 2007, after a successful debut on the Shanghai Stock Exchange that same year.

Rises in services revenue have come with jumps in Apple Pay, Apple Music and other programs. It's a trend the analyst expects to continue to accelerate through next year and beyond.

Higher average selling prices equal higher profit margins, by the way.

Going forward, Apple, and other firms, will be looking to sell us different products because phones and computers have matured to a point where we feel like we don't need to buy a new one as often. Second, Apple compares well with the broad market on measures of risk, financial strength, and growth potential, which means it arguably deserves a premium valuation.

But for the generations that follow, the instantly recognisable eaten apple seems set (so far) to be one of the brands of the 21st Century. Stocks in general will, of course, have to cooperate.

Apple Chief Executive Tim Cook has a trillion reasons to smile.

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