The iPhone and MacBook maker has seen its stock rise over 50,000% since it was first listed as a public company in 1980. Apple announced $100 billion in stock buybacks on May 1, the largest repurchase ever by a USA public company. The value of the company's stock has reached an all time new high of $208.38.
In 2015, Apple joined the Dow Jones Industrial Average, one of capitalism's most exclusive clubs. I think the best way to look at this market is that there will soon be only two major players, Amazon and Microsoft, and then a bunch of smaller players. Amason is also trailing Apple, but is seeing higher profits than previously expected, while Google's parent company Alphabet is resting at $845 billion.
Apple is in the unique situation of controlling the hardware and software in its mobile devices, with content for users required to go through its App Store that takes a percentage of revenue. The launch of the original iPhone was a turning point for Apple, and the relatively new iPhone X continued that trend, fueling a stock increase of more than 30-percent over the past year.
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Apple reached one trillion dollars 42 years after it was founded.
And just for good measure, Apple repurchased $20 billion in stock during the quarter - $10 billion under its new $100 billion buyback program, and $10 billion under its prior authorization.
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.
In recent years, the financial world considered Amazon and Apple to be in race toward the milestone. Five of the 10 largest USA companies by market cap on Thursday were tech companies, including Amazon,Alphabet, and Facebook. Microsoft, from which Apple snatched the title of most valuable company in 2012, is at $827.53 billion today. The online sales company now has a market value of $880 billion dollars.