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Apple Officially Becomes World’s First $1 Trillion Company

Apple Officially Becomes World’s First $1 Trillion Company

Apple has officially become the first private sector company to ever be worth $1 trillion following its share price reaching $207. Mostly due to strong sales for high-end iPhones, Apple’s shares rose over 8-percent after an impressive quarterly earnings earlier this week.

Many in the financial world saw Apple and Amazon in a race to this inevitable milestone and it appears Apple has won. CEO Tim Cook also attested the growth to other Apple products, such as smart home peripherals, wearables, and services like the App Store and Apple Pay. Apple’s financial measure of value is now worth more than the economies of countries like Switzerland or Saudi Arabia.

However, Apple is not the first publicly traded company in the world to surpass the trillion dollar mark, as gas company PetroChina is now worth about $205 billion on the New York Stock Exchange.