Apple is the first company to reach the long sought-after $1 trillion market valuation, making it the first company on record to ever reach the mark.
While Apple was hovering just beneath the historic 13-figure number since late July, it wasn’t until earlier this morning after stocks rose 2.7% to $207.05 – the highest in company history – that it became official.
The dream of being the world’s first trillion-dollar company is something the tech giants have long been chasing and, while Apple was the first to cross the finish line, the rest aren’t all that far behind: Microsoft currently sits at a $824 billion valuation, while Alphabet and Amazon loom just ahead at $854 billion and $878 billion, respectively – each a gilded stone’s throw away from a trillion.
That said, the competition's continued success doesn't lessen the significance of today’s milestone – a capstone to the company’s meteoric rise to power over the last decade after a period of near-death in the '90s.
For what it's worth, Apple's trillion-dollar debut comes during one of the company's highest heights in terms of products. This year saw a slew of new Macbook Pro models, the Apple HomePod and rides on the tail of the late-2017 launch of the iPhone X.
And, that's saying nothing of the company's still-rumored projects like its AR/VR Glasses and a streaming service that could be cheaper than Netflix – two projects that rumors suggest are close to being unveiled.
The path to $2 trillion
All of these products and more have helped Apple get to where it is today the world's leading company, a position that Apple will need to fight to keep against increasingly tough competition. This is just the beginning of a new chapter for the company – one in which it will have to choose its priorities more carefully now than ever.
For now, though, Apple seems to be at the top of its game, expanding recently into the Chinese market and finding success overseas.
So long as it can maintain this momentum, $2 trillion in the next decade doesn't seem like a pipe dream.
- Speaking of phones, here's everything you need to know about iPhone 9