Apple Becomes First US Company Valued at $1 Trillion
Apple last Thursday breached the $1 trillion market capitalization mark as its stock jumped 2.9 % to end the day at $207.39.
The tech company’s stock rallied about 9% since Tuesday after announcing June-quarter results that went above expectations. Reaching as high as $1.006 trillion before ending at $1.002 trillion, it was noted that the two-day run was the best that the company had since 2014.
In his memo to celebrate the company’s milestone, CEO Tim Cook said that the thousands of Apple employees had “much to be proud of”, but it was “not the most important measure” of the company’s success. He added that Apple’s financial returns are simply the result of its innovation, staying true to its values, and putting products and customers first.