Apple Becomes the First US Company to Hit $1 Trillion Market Cap
Apple has successfully hit the market capitalisation of $1 trillion and became the first US company to hit that target. This happened on Thursday as the iPhone maker became the first publicly traded U.S. company to reach $1 trillion.
During the trading, after reporting powerful third quarter earnings, the company’s stock gained 2.92 per cent. The luxury phone maker excelled the estimates of analysts as well as its own projections. Also, it made a vigorous forecast of its next earnings in the fourth quarter.
“The $1 trillion valuation was a significant milestone that gave Apple employees much to be proud of," Tim Cook, Chief Executive of the company said. "Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to ...