Apple hits historic $1-trillion stock market valuation

Why Apple is inches away from $1 trillion valuation

Why Apple is inches away from $1 trillion valuation

Apple's stock market value is greater than the combined capitalization of Exxon Mobil (XOM.N), Procter & Gamble (PG.N) and AT&T (T.N).

In 2007, Chinese government-controlled PetroChina briefly reached a stock market value of about US$1.1 trillion following its public listing in Shanghai.

The milestone reinforces the massive power Apple has in the tech world - and with its momentum, the company is poised to further shake up Hollywood with an expected video-subscription launch some time later this year. "A clean beat on the path to $1 trillion".

However, because the company readjusted its share count due to buybacks at the close of Q3, Apple's stock price actually needed to hit about $207.05 per share before it can claim the title as the first trillion dollar company. Jim Cramer, for example, recently argued that Apple shares could start approaching $300.

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Apple said in a quarterly filing to the Securities and Exchange Commission, or SEC, that its share count was 4,829,926,000 on July 20, less than the 4,842,917,000 it reported on Tuesday for the end of the June quarter.

Apple first listed in 1980 and its stock has risen more than 50,000% since then. Incidentally, the trigger price for Apple to reach a trillion-dollar valuation has been slowly creeping upwards as the company continues to aggressively buy back shares as part of its capital return program. It is now worth about US$200 billion, according to Thomson Reuters data.

Hot on Apple's heels is Amazon.com, the second-largest listed United States company by market value, at around US$880 billion, closely followed by Google-owner Alphabet and by Microsoft.

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