Apple have done it, they're now worth $1,000,000,000,000

[Master Disaster]

Requesting lock...

 

News broke yesterday that Apple were poised to break the $1t mark soon, I doubt anybody could have guessed that they'd break that barrier a mere 24 hours later though.

Quote

Apple has become the world's first public company to be worth $1 trillion (£767bn).

 

The iPhone maker's market value reached the figure in late morning trading in New York as its shares rose to a new record high above $207.

 

The stock has been rising since Tuesday when it reported better than expected results for the three months to June.

 

Apple beat Silicon Valley rivals such as Amazon and Microsoft to become the first to hit the $1 trillion valuation.

 

Since the iPhone first went on sale in 2007, Apple shares have soared by 1,100% and have jumped almost a third in the past year.

The rise is even more astonishing - 50,000% - since the company first listed in 1980. That dwarfs the 2,000% increase for the S&P 500 over the same period.

 

Apple traces its origins to the garage of co-founder Steve Jobs in 1976 and was initially best known for its Mac personal computers before its smartphone paved the way for the app economy.

They're the first public company to break the barrier, a Chinese oil company did break it first but that was mostly state owned although adjusting for inflation both Microsoft and General Electric have been worth more in the past.

Quote

Mr Jobs, who died in 2011 and was succeeded as chief executive by Tim Cook, oversaw the development of the iPhone, which transformed Apple's fortunes.

 

In 2006 the company had sales of less than $20bn and posted profits of almost $2bn.

 

Last year its sales hit $229bn, with profits of $48.4bn, making it the most profitable listed US company.

 

PetroChina was briefly worth about $1.1 trillion after floating in Shanghai in 2007, although most of its shares were held by the Chinese government. It is now worth about $220bn.

 

Adjusted for inflation, numerous US companies from General Electric to Microsoft have been worth more than Apple is today.

https://www.bbc.co.uk/news/business-45050213

 

I'm going to show restraint and not say what I'm thinking. Good Job Apple, I'd like to say you deserve it but I can't.

[kelvinhall05]

90% of that money is from teenage girls and Asians.

 

 

 

obvious /s plz no kill me

[_CrisisRogue]

Just now, kelvinhall05 said:

90% of that money is from teenage girls and Asians.

 

 

 

obvious /s plz no kill me

my grandad has had iphones for year, and everyone I know pretty much have all iphones, except 3-4 people.

[PlayStation 2]

Here comes all the pointless bickering.

[kelvinhall05]

6 hours ago, _CrisisRogue said:

my grandad has had iphones for year, and everyone I know pretty much have all iphones, except 3-4 people.

Basically every friend of mine has an iPhone, only me and one or two others have Android phones.

[Castdeath97]

2 minutes ago, kelvinhall05 said:

90% of that money is from teenage girls and Asians.

 

 

 

obvious /s plz no kill me

I mean seriously speaking, the Asian smartphone market is pretty massive so it's no surprise.

[IdiotPenguin]

3 minutes ago, kelvinhall05 said:

90% of that money is from teenage girls and Asians.

 

 

 

obvious /s plz no kill me

Wow I’m a teenage girl and I’m offended sir!

 

Spoiler

Jk but I am asian tho and I do have an iPhone X which is what I’m typing this on right now

 

[asus killer]

one most wonder if doing shady stuff is the way to go to the top. I mean Apple could kill baby seals and get away with it for god sake, if it were any other company doing what they do it would be murder.

[kelvinhall05]

6 hours ago, asus killer said:

one most wonder if doing shady stuff is the way to go to the top. I mean Apple could kill baby seals and get away with it for god sake, if it were any other company doing what they do it would be murder.

Same with Trump, but I'm not going to turn this into a political debate.

[_CrisisRogue]

2 minutes ago, asus killer said:

one most wonder if doing shady stuff is the way to go to the top. I mean Apple could kill baby seals and get away with it for god sake, if it were any other company doing what they do it would be murder.

what shady things did they do? making a cpu overheat isn't shady, just saying. overpricing isn't shady neither.

[The Benjamins]

Cool their value flickered into 1T, Who is going to be the first company to maintain above 1T for 1 quarter.

[Jtalk4456]

16 minutes ago, Master Disaster said:

News broke yesterday that Apple were poised to break the $1t mark soon, I doubt anybody could have guessed that they'd break that barrier a mere 24 hours later though.

Wait I thought we were all assuming that to happen. were some people doubting this?

I knid of assumed since news of them being close would increase favorability with public and investors, the news alone would take them the rest of the way there pretty fast

[Froody129]

If they started paying dividends their value would shoot up even more.

 

Value is a slightly abstract term, for example Alphabet (Google owner) is worth less than Apple but holds a good deal more power across a wider market. 

 

I wonder if they're saving this money up for some big project or if they're just stashing away because they can't do anything else with the money 

[BuckGup]

They also have the worlds largest cash at hand at something stupid like 250 billion or 250 million dollars

[Hip]

Apple has no value to me. Buying up every start up with inovations and selling them as their own is not a great thing to be proud of.

 

[aezakmi]

these guys could feed the entire world with 4 meals a day for 2 centuries

 

 

 

 

nice

[D13H4RD]

Somehow, I can already hear the "Cha-ching" song from Spongebob playing from Cupertino

[Imbellis]

28 minutes ago, kelvinhall05 said:

Same with Trump, but I'm not going to turn this into a political debate.

Apophasis.

 

Regardless, I think it'll be interesting to see if any competitors emerge in the phone market or if apple, more ambitious due to this, will expand into additional markets.

My only comment is that I think they should put the money and research towards better, more long-term goals rather than expanding their domain in the phone industry; however, that's not as profitable.

[The Benjamins]

8 minutes ago, aezakmi said:

these guys could feed the entire world with 4 meals a day for 2 centuries

 

 

 

 

nice

if a meal cost $3 USD, and you eat 3 meals a day, for 2 centuries you would need $49,795,200 Billion or $49,795.2 Trillion or $49.8 quadrillion. ($49,795,200,000,000,000)

 

The top 10 companies in the world wouldn't make a dent.

 

This does not take into account for inflation.

[kelvinhall05]

6 hours ago, Imbellis said:

Apophasis

True. Kinda realized that when I was typing it but was hoping no one would notice 

[asus killer]

32 minutes ago, _CrisisRogue said:

what shady things did they do? making a cpu overheat isn't shady, just saying. overpricing isn't shady neither.

ask Linus from LTT, he'll tell you

[YedZed]

20 minutes ago, Froody129 said:

*something*

 

Froody.

[Froody129]

Just now, YedZed said:

Froody.

Towel? 

[NTDaws]

90% of that money is from my porn business

[YedZed]

8 minutes ago, Froody129 said:

Towel? 

Yes, thank you. *sucks*