Apple has become America's first trillion-dollar company

At our closing share price of $207.39, the stock market now values Apple at more than $1 trillion. Those earnings beat Wall Street expectations on the top and bottom lines, but iPhone sales fell slightly short.

Mario Ritter adapted this story from VOA News and wire reports.

CEO Tim Cook celebrated the moment in an all-staff memo by acknowledging it as a "significant milestone" that gives Apple's workers "much to be proud of", while adding that it is "not the most important measure" of Apple's success.

"The brand still stands for quality product, great design, ease of use and a customer-first approach to technology", analyst Milanesi said of Apple.

Amazon has provided stiff competition in the race to past the trillion dollar mark, following strong Amazon Prime Day sales last month and November's Black Friday, pushing founder Jeff Bezos to becomethe world's richest man. But since this calculation is based on outstanding shares in early May and, more importantly, not counting the number of shares Apple has bought back recently, it leads us to the higher $206.49 figure earlier mentioned.

Part of the argument against a company hitting a trillion dollars in market value - and staying there - is finance's so-called law of large numbers. "Apple went from hip to has-been in just 19 years", wrote the publication at the time.

Facebook finally suspends Alex Jones and Infowars for hate speech
Within Facebook, the free-speech issues raised by Infowars and Jones have become an especially contentious topic. YouTube's "strike" against Infowars means it is banned from live-streaming on the platform for 90 days.

Facebook finds 'sophisticated' efforts to disrupt elections
Among the new accounts were one called " Resisters " which promoted a fake anti-right wing protest in August in Washington D.C. The participants include the " Aztlan Warriors ", "Black Elevation", "Mindful Being", and " Resisters " pages.

Plea for help from NZ protester on board 'hijacked' Gaza peace boat
While many foreign powers have censured Israel's handling of Gaza, the United States has echoed its blaming of Hamas. Israeli naval forces on Sunday intercepted a ship bound for the blockaded Gaza Strip, according to organizers.

The first company to hit $1 billion in market capitalization - this was far before the breakup of AT&T into the "Baby Bells", which occurred in 1982.

Synovus Trust portfolio manager Dan Morgan said he owns shares of Amazon mostly because of its dominance of the cloud computing industry, a business that grew 42 percent in the June quarter and provided most of Amazon's operating profits.

Apple has boasted steadily rising revenues for many years, 2016 being the notable exception, and experts are already anticipating big increases in the company's value.

Originally founded as a maker of computers in 1976, Apple expanded to dozens of product categories in the 1990s, many of which were unsuccessful. That company is now worth about $205 billion.

This streamlining is putting millions of dollars in the pockets of small companies, which now have a vital role in producing some the world's most popular products.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Trump Threatens US Government Shutdown over Immigration
Trump is noting that Italian voters got "tired" of their country's immigration policies. Government funding expires midnight September 30.

Talking Lunar Eclipse with prof. Lerothodi Leeuw
The lunar eclipse photographed here was very unusual, because it coincided with the moon's perigee, or closest approach to Earth. The period of complete eclipse - known as "totality", when the moon appears darkest - will last from 1930 to 2113 GMT.

New high-end DJI Mavic 2 drones revealed in print leak
Just because Argos has accidentally printed an ad for the Mavic 2 doesn't mean the launch of the new DJI drone is imminent. We'll have to wait and see, but if all of this comes to fruition there are some big product launches on the way from DJI.

Investigators gave up search for missing Flight MH370 months ago
No irregularities were found in the on-board cargo, which included items like lithium batteries and about 2,500 kgs of mangosteen. To date, the only confirmed traces of the Boeing 777 aircraft have been three wing fragments washed up on Indian Ocean coasts.

Wedding bells heard for Nick Jonas & Priyanka Chopra Trending
Katrina might be considered as possible replacement for Priyanka in " Bharat ", sources add. Getting engaged after a few months of dating seems to be popular in Hollywood lately.

Huge Kawhi Leonard to Lakers update, LeBron James revelation, Rockets deal
Lakers president of basketball operations Magic Johnson has spoken in great detail about the nighttime meeting with James that led to his signing, but James had not.

Vettel fastest in Hungary but Mercedes in a spin
Vettel said he was not concerned, either by his championship position or by comparisons with past year . "Absolutely not. In lap number 10, the advantage of Hamilton grew to 4.4 seconds, while in lap 14, Raikonnen stopped to change tyres.

North Korea possibly constructing new intercontinental ballistic missiles
And 38 North is also skeptical concerning reports of "secret uranium processing facilities" that have emerged over the last month. Trump later suspended annual military drills with South Korea which North Korea had long called an invasion rehearsal.

Viagra in pregnancy study stopped after 11 babies die
The parents of 10 to 15 babies in the trial are facing an agonizing wait to see if their infants will be affected by the drug. About 230 women had enrolled in the Mater trial, with another 200 expected to be recruited before the study was halted.

Google to Android Phone Makers: Don't Go Crazy With the Notches
Google has rolled out guidelines to help OEMs and app creators develop for smartphones with display notches. They include limits on notches, or "cutouts", and specifications on where they can exist on the device.

Fulham sign Aleksandar Mitrovic for £22m - Premier League 2018
The Magpies have agreed a deal to sign Japanese striker Yoshinori Muto from Mainz for a fee of £9.5m, subject to a work permit. Gayle struggled for goals on Newcastle's return to the Premier League , scoring six in 38 appearances.

Aircraft carrying remains of US Korean War dead departs North Korea
North Korean veterans of the war, which left more than 1.2 million dead, will gather in Pyongyang for a conference. The United Nations Command (UNC) in South Korea said 55 sets of remains were on board the plane.

World Hepatitis day observed at Sindh Institute of Urology and Transplantation
Treatment is required for only those who have an active infection, and has to be taken for long periods, often years. The alarming report showed that among people living in north India, hepatitis A and B is also prevalent.

Manchester United confirms that Valencia has become permanent captain
Anthony Martial can be "one of the best players in the world", according to Manchester United team-mate Ander Herrera . Chelsea FC have so far only made one signing this summer after having brought in Jorginho from Napoli last weekend.

Expected star witness may not testify in Trump ex-aide Manafort's trial
The comments were the first volley in the bank fraud and tax evasion trial. "It's not the American way", the judge said. Asonye told Ellis Wednesday afternoon that prosecutors could rest their case as early as next week.


More News

News
More News