Apple becomes First $1trillion Company

Apple has become the world’s first trillion-dollar company on Thursday after its market cap hit the historic landmark.

A rise in its share price pushed it past the landmark before its closest rival for the honour, retail giant Amazon.

This follows a jump in its stock after reporting strong Q3 earnings that saw the iPhone maker surpass both its own projections and analysts’ estimates, while also making a strong forecast for its upcoming Q4 earnings.

The company, originally co-founded to sell personal computers by the late Steve Jobs in 1976, saw its shares hit $207.05.

It’s a continuation of a record streak growth that’s seen its share price grow 2,000% since Tim Cook replaced Jobs at chief executive in 2011.

But given the volatile nature of the market, however, it’s possible Apple may not stay a $1 trillion company for very long, or it could bounce back and forth over the $1 trillion mark in the coming days.

It may not be there alone for long, though, as Amazon is also on the verge of hitting the $1 trillion mark after its own positive Q3 results.

Apple began selling desktop computers in 1976 but its fortunes skyrocketed from the turn of the 21st century by the launch of game-changing personal gadgets such as the iPod in 2001 and the iPhone in 2007.

Eighteen different iPhones have been launched and more than 1.2bn of the devices have been sold.

The latest, iPhone X, will burn a $1000 (N400K) hole in the pockets of would be owners.

It’s sure slicker than your average…

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