Harry’s impression: Apple reaches US$1 trillion in market value

 


Tech giant Apple became the first publicly listed United States company to reach US$1 trillion in market value on 31 July, beating Amazon and Microsoft to the crown.

In a memo to Apple employees, Chief Executive Officer Tim Cook said: “At our closing share price of US$207.39, the stock market now values Apple at more than US$1 trillion. While we have much to be proud of in this achievement, it’s not the most important measure of our success. Financial returns are simply the result of Apple’s innovation, putting our products and customers first, and always staying true to our values.”

According to BBC News, by expanding its source of profits, the company makes US$10 billion every three months from App Store sales, cloud storage and its music streaming service.


Amazon, which has reached US$900 billion in stock market value, may be next in line to hit the trillion dollar mark, according to Forbes. Amazon, which has reached US$900 billion in stock market value, may be next in line to hit the trillion dollar mark, according to Forbes.


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