Apple is first public company worth $1 trillion

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Most of the people reading this are probably on an Apple device right now or own at least one product they have offered.

Apple has become the world's first publicly traded company to be valued at $1 trillion. Shares have since nosed down, to $206.26 per share, as of 12:05 p.m. ET.

According to stock market trackers, Apple's shares are now worth $206.54 apiece, meaning Apple has managed to beat its tech rivals to become worth $1 trillion.

After Apple's best June quarter ever, the company also projected a very successful Q4 in terms of earnings.

Apple beats Microsoft, Google and Amazon to $1 trillion valuation
Institutional shareholders including The Vanguard Group and Blackrock own 15.93% of the company's outstanding shares. And with shares priced at just 15.2 times expected earnings, the market has adjusted to the new reality.

Since the iPhone first went on sale in 2007, Apple shares have soared by 1,100% and have jumped nearly a third in the past year. As HuffPost reporter Emily Peck tweeted: "Did Apple get to $1 trillion through sheer innovation and ingenuity?" Amazon had the second-largest United States market cap as of Wednesday, at roughly $872.5 billion.

Apple CEO Tim Cook looks on during a visit of the shopfitting company Dula that delivers tables for Apple stores worldwide in Vreden, western Germany, on February 7, 2017.

PetroChina, the world's fourth biggest oil company by revenue, was the first company to pass the $1tn mark in 2007.

Naturally, the $1 trillion figure is constantly changing.

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One of five USA companies since the 1980s to take a turn as Wall Street's largest company by market capitalization, Apple could lose its lead to the likes of Alphabet Inc GOOGL.O or Amazon.com Inc AMZN.O if it does not find a major new product or service as global demand for smartphones loses steam.

The firm told investors this week that it expected a very strong end to the year helped, naturally, by the release of yet another new iPhone. This re-set the target number for the share price to $207.0425 per share.

When it comes to the almost $1,000 iPhone X, Walkley notes that Apple is taking share from its primary premium-tier competitor Samsung. Its incendiary rise to the top came to fruition on Thursday, when NY shares closed at an all-time high of $207.39.

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