Apple becomes world's first trillion-dollar company

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Apple, the culture-changing company behind the iPod, iPhone and iPad, hit another milestone on Thursday, becoming the first private-sector company to surpass $1 trillion in market value.

The tech company's stock jumped 2.9 percent to end the day at $207.39, giving it a market capitalization of $1.002 trillion.

The iPhone and MacBook maker has seen its stock rise over 50,000% since it was first listed as a public company in 1980.

The Cupertino, California company's shares added another 0.3 percent on Friday, putting its market capitalization at $1.005 trillion. Some progressives take issue with all the money Apple gives back to its shareholders, almost $44 billion during the first six months of this year.

Apple sold 43.1m iPhones in the June quarter, as customers flocked to its more expensive models like the iPhone X.

Heck, Amazon.com (AMZN, $877 billion), Google parent Alphabet (GOOGL, $852 billion) and Microsoft (MSFT, $825 billion) aren't all that far behind the vaunted trillion-dollar level. It did not reach the $100 billion mark until May 2007, but five years later the technology giant reached a value of $500 billion.

At the time of writing, Apple has already retreated from the $1 trillion valuations, and the fate of the last company to reach $1 trillion may be an object lesson to investors. Analysts polled by Bloomberg have an average price target of $212.79, which would translate to a market cap of $1.05 trillion. Mr Jobs passed away in 2011 and his legacy lives on in every Apple product.

The world's most valuable company has also goosed its stock price through buybacks.

Without China, the world's biggest smartphone market, Apple's success would look quite different.

True, Apple's earnings growth rate is slowing down.

Apple is the first US company to hit the $1T milestone; here's why AAPL shares can climb even higher. That's not only fair; it's a more sustainable approach, too, and perhaps even admirably old-fashioned. The social media giant's market cap has sunk to $492.46 billion, and it may take some time for them to hit a trillion.

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