Apple becomes world's first public company worth $1 trillion

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Plus some Microsoft stuff.

Earlier Thursday morning, Apple's own Stocks app (which uses data from Yahoo Finance) incorrectly reported that the company's market cap was over $1 trillion because it didn't factor in the reduction in shares outstanding after Apple's $100 billion stock buyback announced on Tuesday (July 31). Especially, consider Amazon's $900 billion standing and Microsoft, Google's $800 billion standing values.

Jobs, who founded Apple in a Silicon Valley garage in 1976 with Steve Wozniak and built it into a global powerhouse, died in October 2011.

Calculating the market cap is trivial.

People driving themselves in cars to other physical locations is absolutely the future of retail sales? He also credited maverick founder Steve Jobs. "I think that's the booby prize".

One of five US 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 Inc AMZN.O if it does not find a major new product or service as global demand for smartphones loses steam.

In the firm's posted financial results for the fiscal 2018 third quarter, Apple revealed a 17% increased quarterly revenue from previous year of $53.3 billion and 40% higher quarterly earnings per diluted share of $2.34. "Obviously, I never anticipated this day, because I would have stayed". Indeed, some of the best stories about the history of Apple are when Jobs was presented with so-so products that didn't quite mimic the ones inside his head. But let's not get ahead of ourselves here.

The quarter also marks a new revenue record for Apple services at US$9.5 billion which is a 31% increase year on year.

"Alphabet's pace of growth simply isn't as impressive as Amazon's and Apple's".

Apple is the world's most popular tech brand out there, no-brainer.

They've come a long way since that first Apple 1 computer, and are now the biggest information technology company in the world.

6 percent is small, not meaningful.

Canaccord Genuity analyst T. Michael Walkley, who rates AAPL stock at "Buy", writes that iPhone sales continue to defy his expectations.

Amazon is still a distant second if you take into consideration the next two companies in the upper echelon of the USA market cap ladder: Google parent Alphabet and Microsoft are both breathing down Amazon's neck, with valuations of $852.73 billion and $822.78 billion, respectively. So the race is on for number two.

Stock markets are volatile, and a small but growing threat from Chinese smartphone makers might eat into Apple's margins in the coming years.

In addition to device sales, Apple's services and software revenue reached a new milestone during the June quarter; this encompasses iCloud, Apple Pay, Apple Care, iTunes, and more. It now accounts for 4 percent of the S&P 500. The shares are up around 22 per cent so far this year. But Microsoft's revenues were up nearly 100 percent, four times the growth rate of Amazon, and it is starting to gain on the online retailer. Then we're patching Windows.