Published: Sat, August 04, 2018
Finance | By Kristine Clayton

Tim Cook: $1 trillion cap ‘not the most important measure of success’

Tim Cook: $1 trillion cap ‘not the most important measure of success’

At press time Apple's stock cost $206.90 and its market capitalization was $1.017 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.

Before the release of the iPhone, Apple was reporting revenue of less than $20bn and profits of less than $2bn from the sale of its Mac personal computers in 2006. The rise of Apple was brought forth by Steve Jobs' innovative products in the iPod, iPhone, and others, revolutionizing the way we view technology today.

And seems like Apple is not the only one to surpass the $1 Trillion mark.

Apple sold 41.3 million of them in the three months to June this year - and about 216 million worldwide last year. There's no fundamental difference between Apple being worth $999 billion and $1.01 trillion.

His successor and incumbent Apple CEO Tim Cook, meanwhile, is downplaying the valuation.

Apple has won the race to a $1 trillion valuation ahead of its so-called FAANG rivals (Facebook, Amazon, Netflix, Google).

Apple announced strong earnings for the third quarter of the year. Apple's own "Stocks" app, which is based on Yahoo Finance data, also put the company's value at $1.01 trillion.

Today's chart shows this milestone - as well as numerous ones before it - through a period of over 200 years of US market history.

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

The first company to hit $100 billion in market capitalization was only able to do so 23 years ago.

Turns out that trading things like lumber and maple syrup is just slightly more valuable than selling iPhones. 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.

The memo, shared by Buzzfeed, paid homage to Steve Jobs, with Cook reasserting that "Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges - and that the people who are insane enough to think they can change the world are the ones who do".

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