Apple is officially worth more than $1,000,000,000,000

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Having spent months edging ever closer to the record valuation the company's market capitalisation reached the figure after its shares rose above $207. But Apple is, of course, unique, and it has made its run to $1 trillion on the back of exactly one incredibly profitable product, the iPhone. Indeed, although Apple does provide some limited ad-targeting capabilities based on App Store and News app usage, its heavy pro-privacy stance has led marketers to complain that it doesn't collect enough data on its customers for their liking, leaving advertisers feeling like "second-class citizens".

Apple rallied 2.9 per cent to finish above US$1 trillion in market capitalisation, the latest landmark for the iPhone maker after it posted another round of strong earnings earlier in the week.

However, there's was a bit of excitement leading up to this milestone: the number of its shares, which is arguably the main player in all these.

It is a market development that has been in the pipeline for well over a year.

Apple's cult following is largely credited to Kawasaki, who coined the phrase evangelism marketing, a strategy that helps companies get customers to believe so strongly in a product that they try to convince others to buy it.

Bullish investors have rallied after the company's results for the June 30 quarter that handily beat Wall Street forecasts and its upbeat guidance for the September quarter with refreshed products expected this fall.

Apple is an example of American-style capitalism done right.

In the more than four decades since Steve Jobs founded the company in a California garage, Apple has become almost synonymous with personal computing and mobile devices. Today's Microsoft's market cap is about $825 billion, which is rather incredible.

While other tech stocks have struggled, Apple has soared ahead.

Dark horses, they were considered.

"Alphabet's pace of growth simply isn't as impressive as Amazon's and Apple's". Thomson Reuters information shows that Chinese oil company PetroChina reached that level in 2007, although it has since lost much of that value. Alphabet, the parent company of Google, is third at $863 billion. And it has a vote of confidence from some analysts.

In 2006, the year before the iPhone launch, Apple generated less than $20 billion in sales and net profit just shy of $2 billion.