Apple becomes first-ever company valued at $1 trillion
Apple becomes first-ever company valued at $1 trillion
An electronic screen displays the Apple Inc. stock price at the Nasdaq Market Site in New York City New York on Aug. 2 2018
02 August, 2018, 20:09
Tech giant Apple has become the first U.S. company to top $1 trillion in market value.
Still, the iPhone maker's stock is still up 2.3% on Thursday, and up 31% over the past year.
The company reached the record market cap when Apple's stock price briefly hit $207.05 in midday trading, before shares once again retreated.
One of five USA companies since the 1980s to take a turn as Wall Street's largest company by market capitalization, Apple could lose its lead to the likes of Alphabet Inc. or Amazon.com Inc. if it does not find a major new product or service as demand for smartphones loses steam.
In the almost more than four decades since Steve Jobs founded the company in a California garage, Apple has become almost synonymous with personal computing and mobile devices.
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Other companies have come close to the mark, but no public United States company has hit a $1 trillion valuation. But that peak coincided with a Chinese stock-market bubble, and PetroChina's shares would lose $800 billion in value over the next 10 years.
"I think it just speaks to just how powerful the Apple ecosystem has become over the last few decades", GBH Insights analyst Dan Ives told CNBC.
A company's market cap is calculated by multiplying the number of shares outstanding by its stock's share price.
Apple's share price pulled it to $1 trillion in market capitalization on Thursday. Companies typically do so when they consider their stock to be undervalued-or to return funding to investors.
With a mountain of overseas cash freed up by last year's sweeping US corporate tax cuts, Apple bought back a record $43 billion of its own shares in the first six months of 2018, and its report to the SEC suggested it has continued that program in recent weeks.
MDC Alliance's Tendai Biti said there was a clear attempt by Zanu-PF to interfere "with the people's will". Mnangagwa also took to Twitter , calling for calm and urging patience before the results were announced.
After fighting a war for nearly two decades, both the U.S. and the Taliban now feel that a military solution is nearly impossible. Some 3,550 worldwide coalition troops, including 2,413 Americans, have died in Afghanistan since the invasion in 2001.
The Russian military said that IS attempted to bring Israel into conflict with the Syrian regime army by firing across the border. The regime controls nearly all of Sweida province but ISIS retains a presence in desert areas of its north and east.
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While serving as assistant captain, Woods did not play at the 2016 Ryder Cup as he was still recuperating from back surgery. Three players were tied for second just a stroke behind, and three more golfers shot 68 to stay two strokes off the lead.
And musician Kehlani, who also toured with Demi and DJ Khaled recently, sent the singer "huge recovery love". Hollywood singer Demi Lovato who was hospitalised for drug overdose is now "getting better".
All I can say is thank you Zimbabweans for refusing kuitiswa in the name of #GucciCheteChete because you knew that #Bobisinit. With 5.6 million registered voters, the results of the presidential, parliamentary and local elections are due by August 4.
Helen is reportedly doing just fine but the men involved will face at least theft counts and possibly federal charges as well. Miraculously, the shark was found unharmed by the police later and has now been returned to the San Antonio Aquarium .
But Musk said numerous trade-ins it received were mass-market vehicles, including the Toyota Prius and Honda Accords and Civics. Tesla said its capital expenses would be slightly below $2.5 billion in 2018, less than last year's $3.4 billion.
As you know, the first full length bilateral meeting with trump and Putin took place on 16 July in Helsinki. Trump has a particularly fraught relationship with CNN , which he often blasts as purveyor of "fake news'".
No coercive action will be taken against anyone, hence there is no need for anyone to panic, says Rajnath Singh . The demand for NRC wasthere for many years and the list which has been published today is not thefinal list.
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Shareholders often sue companies in the U.S. after unexpected stock price declines, especially if the loss of wealth is large. After a surprisingly weak growth forecast in this week's earnings report, Facebook's stock price dropped 19 percent.