Apple becomes world's first trillion dollar company

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Oil giant PetroChina (PTR) briefly topped a trillion dollar valuation in 2007 when its stock began trading in Shanghai, but shares quickly plunged afterwards.

If someone had dared to buy $10,000 worth of stock at that point of desperation, the investment would be worth about $2.6 million now.

The stock has been surging this week as anticipation mounts about the next generation of iPhone, expected to be released in September.

The tech company's stock jumped more than 3.3 percent to as high as $208.38, bringing its gain to about 9 percent since Tuesday when it reported quarterly results that beat expectations and said it bought back $20 billion of its own shares. The 9 percent gain was Apple's biggest two-day advance in almost a decade. However, it depends on knowing the number of shares, which is affected by Apple's buybacks.

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Apple wasn't the first company to the $1 trillion market-cap mark.

For now, though, Apple seems to be at the top of its game, expanding recently into the Chinese market and finding success overseas.

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As with other landmarks - such as the Dow crossing 25,000 for the first time -the Apple record is significant because of its resonance beyond the financial universe. Therefore, Apple still needs to grow further in a bid to become the world's most valuable company in history.

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The chart below shows the value over time of a $1,000 investment in Apple made at its December 12, 1980 closing price. This made it hard to determine the company's actual value.

Mr Jobs died in 2011 and was succeeded as chief executive by Tim Cook. His vision, showmanship and sense of style propelled Apple's comeback. But it might not have happened if he hadn't evolved into a more mature leader after his exit from the company in 1985.

The company, which was started in a garage in Palo Alto by Steve Jobs and Steve Wozniak in 1976, has transformed the way people communicate with its ubiquitous iPhone. Meanwhile, the Services division - which includes the App Store, Apple Music, Apple Care, iCloud and Apple Pay - is becoming an increasingly important driver of revenue too.

Cook told analysts that Apple is on track to meet a goal of doubling fiscal 2016 services revenue by 2020.

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