Apple is now the world's only trillion dollar publicly traded company, in terms of market capitalization.
Today Apple Inc. surpassed the $1 trillion dollar mark in value, showing once again that it is the dominant force when it comes all the companies out there today. It also announced that it had used some of its huge pile of cash to buy back shares worth billions.
Apple is now a tale of incredibly shrinking profit margins.
Apple's stock has climbed by 23 percent so far this year, compared to a 6 percent gain for the Standard & Poor's 500 index. "A clean beat on the path to $1 trillion".
In a USA regulatory filing this week, Cook warned that tariffs being imposed in a trade war between the United States and China could result inApplepaying more to make its products, eating into profit or forcing up prices for consumers.
The biggest reason for the profit margin diet is Apple's spending. Revenue increased 17 percent to $53.3 billion. "Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline". Apple is nearly worth more than Mexico's 2017 gross domestic product which was estimated at $1.142 trillion. On Tuesday, the company said Apple Services, which includes things like the App Store and Apple Music, saw a 31% jump in revenue.
Now the company stands 113th.
The landmark is the latest victory for Apple chief executive Tim Cook, who faced skepticism when he took reins of the iconic technology giant in 2011.
Apple has what is considered the most devoted brand community in the world and its ad campaigns are legendary for personal touches that foster a deep loyalty among its customers. Stock in the technology company reached the huge number during trading on Thursday. While that's still low by tech superstar standards, it's a significant shift for Apple. "Steve Jobs offered me a third job and I turned him down".
Apple has been credited with giving rise to lifestyles centered around mobile apps for seemingly everything from games and messaging to ordering food or summoning vehicle rides. Cook insisted what Apple was doing was legal and in the best interest of shareholders, given the offshore money would have been subjected to a 35 percent tax rate had if it were brought back to the U.S.