Apple beats Microsoft, Google and Amazon to $1 trillion valuation


Apple said it expects revenue of $60 billion to $62 billion for the fiscal fourth quarter that ends in September 30. It could be higher or lower than that now.

Under CEO Tim Cook, Apple has released exactly zero incredible new products and has seen its financial success multiply regardless.

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Apple has become the first $1 trillion publicly listed USA company, crowning a decade-long rise fuelled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. It's taken longer than I thought. Because stock price-which is what drives market cap-is black magic, not logic. And with shares priced at just 15.2 times expected earnings, the market has adjusted to the new reality. However, it depends on knowing the number of shares, which is affected by Apple's buybacks. According to the Guardian, the share prices have grown 2000 per cent since Tim Cook replaced Steve Jobs, who co-founded the company in 1976, as chief executive in 2011. The shares duly peaked at $207.05.

In the more than four decades since Steve Jobs founded the company in a California garage, Apple has become almost synonymous with personal computing and mobile devices. Back in 1997, the feat they reached today seemed unimaginable as the Toronto Star writes that their stock was being traded at less than $1.

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Institutional shareholders including The Vanguard Group and Blackrock own 15.93% of the company's outstanding shares. He then used some of the cash on an unprecedented program of buybacks and dividends that has returned more than $275 billion to shareholders since 2012.

The trillion-dollar mark is, of course, arbitrary. The company estimated a healthy revenue stream of between $60 billion and $62 billion with low operating costs of just $7.95 billion to $8.05 billion.

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Wall Street thinks Apple shares can go even higher too. PetroChina stock soon crashed to earth, losing an astounding $800 billion for shareholders in what Bloomberg News calls "the biggest stock slump in world history".