Apple makes history as the first company to hit $1 trillion valuation

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Apple trillion

Apple has made history after it became the first US-listed company to be valued at $1 trillion (£763 billion) yesterday.

During the day, the technology giant’s share price spiked by 2.8 per cent to $207.05, which enabled it to pass the $1 trillion mark in New York trading.

It comes after its stock surged nine per cent after Apple’s third quarter results saw profits spike 32 per cent to $11.5 billion (£8.7 billion) and sales grow 17 per cent to $53.3 billion (£40.6 billion).

The phone and computer manufacturer, which operates its own stores around the world as well as an ecommerce site, said its results were bolstered by the ongoing popularity of iPhones and the growth in other items and services.

While Apple is the first company to hit the trillion dollar mark, it is likely to be followed by rival Microsoft and online retail giant Amazon.

Amazon is currently worth $875 billion, Microsoft $823 billion, and Google/YouTube parent company Alphabet is valued at $850 billion.

Apple said it was expecting fourth-quarter revenues to come in between $60 billion and $62 billion, ahead of analyst consensus of $59.5 billion.

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