Apple has become America's first trillion-dollar company

Apple Stock Buyback Tops $20B In Second Quarter

A company that started in a garage more than four decades ago became the first American publicly traded company to reach a $1 trillion valuation.

"The $1 trillion mark is more psychological, and sends a message of growth and size into the market", said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

Apple sold 43.1m iPhones in the June quarter, as customers flocked to its more expensive models like the iPhone X. 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.

Investors most likely won't care as long as Apple keeps growing and as long as it continues to churn out eye-popping earnings on an absolute basis.

The California-based company born of a friendship between Steve Wozniak and the late Steve Jobs is credited with giving rise to smartphone lifestyles and "apps" for almost everything.

A company's market cap is calculated by multiplying the number of shares outstanding by its stock's share price.

Turkey's President Tayyip Erdogan says US's threatening language will not benefit anyone
Turkey has waged a two-year effort to have Gulen extradited from the United States. Brunson's supporters maintain that the charges against him were fabricated.

Apple said it expects revenue of $60 billion to $62 billion for the fiscal fourth quarter that ends in September 30.

In fact, Amazon, Alphabet, and Microsoft could soon be joining Apple over the $1 trillion threshold - currently, they're worth $886 billion, $844 billion, and $825 billion respectively. Apple services like the App Store and Apple Music have grown consistently, and consumers have been taking to new products like the Apple Watch, which debuted in 2015 and has made Apple the biggest watchmaker in the world by revenue, according to research firm Asymco.

Because of its size and value, the health of Apple ripples through the US economy and its markets. So who's going to pay for it?

Actually PetroChina, a state owned oil giant, was the first company to hit this mark during its initial public offering in 2007, though its value has declined dramatically since then. In 2011, Apple was the only tech company in the top five.

The peak reached on Thursday seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1. All that money coming back to the USA also spurred Apple to raise its dividend by 16 percent and commit to buy back $100 billion of its own stock as part of an effort to drive its stock price even higher.

Related News:



Most liked

California wildfires scorch an area the size of Los Angeles
Jennings said both the Vichy Fire and Western Fire were officially Cal Fire incidents and he could not provide further details. The fire has killed six people in Shasta County, including two firefighters, and destroyed 1,555 structures.

Kochs won't help top GOP Senate candidates in key state
Americans For Prosperity , a branch in the Koch network , announced Monday that the group would not financially back Rep. Trump's policies also have not always been in line with the Kochs' political group-Americans for Prosperity.

Mike Pompeo announces $154m in United States initiatives for Indo-Pacific
Pompeo says despite withdrawing from the deal, American companies are continuing to advance USA economic interests in the region.

Zim police defend decision to call in army to deal with protesters
The ZANU-PF leader tweeted: "At this crucial time, I call on everyone to desist from provocative declarations and statements". With 151 out of 210 parliamentary constituencies counted, Mr.

Donald Trump: Paul Manafort Being Treated Worse Than Al Capone
A star government witness will be Richard Gates, a former deputy Trump campaign chairman and former Manafort business associate. Attorney Uzo Asonye told Ellis in court Wednesday that Gates may not testify. "That's not the American way", the judge said.

Tesla cuts losses on Model 3 sales, Musk promises profits next quarter
Tesla said its capital expenses would be slightly below $2.5 billion in 2018, less than last year's $3.4 billion. On Twitter, Elon Musk asked for developers to consider joining Tesla to make games optimized for its vehicles.

Mars closest to earth in 15 years today
This is an artist's model of an early Mars - billions of years ago - which may have had oceans and a thicker atmosphere. Since the orbits of the two planets are of different lengths, they come close to each other once every two years.

Donald Trump says he’s open to meeting Iranian president with ‘no preconditions’
Mr Trump said he had "no preconditions" for a meeting with the Iranians, adding: "If they want to meet, I'll meet". US Secretary of State Michael R Pompeo is also scheduled to visit Singapore and Jakarta.

Man Hit By Car During ‘In My Feelings’ Challenge
Norwood, who wasn't seriously injured, laughed it off after the impact was caught on camera, showing off his scrapes . According to media reports, UAE has ordered arrest and a fine of U.S. $ 500 for these challengers.

ICE, Border Patrol testify at Senate hearing on family separations
McConnell, asked about a shutdown during a Kentucky radio interview, said it was not going to happen. Trump has reignited his fight with Congress over funding for a Southern border wall with Mexico.

Demi Lovato remains in hospital due to complications from drug overdose
Demi Lovato's Thursday concert in Atlantic City may have been canceled, but the singer and her music were still celebrated. One source said, " She is under the care of medical experts and is expected to make a full recovery ".

Prosecutors advise witnesses in Manafort trial: Avoid the T-word
Manafort had been under federal investigation since 2014 over suspicion of illegal lobbying and financial improprieties. The filing comes a day before Manafort's trial on bank and tax fraud charges is set to begin.

Fulham complete £20m signing of Aleksandar Mitrovic from Newcastle
The move comes mere hours after Newcastle announced the signing of Swiss worldwide , Fabian Schär, from Deportivo La Coruña. West Brom defender Ahmed Hegazi has emerged as a target for Newcastle United , according to Bleacher Report's Dean Jones.

Rudy Giuliani: 'Collusion Is Not A Crime'
Rivera said Cohen was somewhat of a "consigliere" to Trump , in that he was the "one key person we tell all of our life story to". Cohen is facing a federal criminal investigation as well as legal scrutiny for NY taxicab companies he owns.

Everton to reject all offers for Jordan Pickford amid Chelsea interest
Now Madrid want to include Willian in their swoop for Courtois with the Brazilian making up around £65m of the combined fee.