Apple is the world’s first public company to be worth $1 trillion! Apple’s market value reached the colossal figure in New York yesterday, Thursday 2nd August and the company’s share price ended the day securing a new record high of $207.39.
To put the figure of $1 trillion into perspective, if a person’s salary is $40,000 per year it would take 25 years to earn $1 Million, 25 thousand years to earn $1 Billion and 25 Million years to earn $1 Trillion.
The stock had been rising since Tuesday when the iPhone maker returned better than expected results for the three months to June. Silicon Valley rivals such as Amazon and Microsoft have been beaten by Apple to make history and become the first to be valued at the $1 trillion mark.
Since the iPhone first went on sale in 2007, Apple shares have soared by 1,100% and have jumped almost a third in the past year. Overall the company has risen – 50,000% – since the company first listed back in 1980.
Apple’s origins come from the garage co-founder Steve Jobs in 1976 who developed the Mac personal computer before the infamous smartphone set the trend for the app economy.