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Apple is first public company worth $1 trillion

ITN News Editor
By ITN News Editor August 3, 2018 13:30

Apple is first public company worth $1 trillion

Apple has become the world’s first public company to be worth $1 trillion. The iPhone maker’s market value reached the figure in New York and its shares closed at a new record high of $207.39. 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 index over the same period.

 

 

ITN News Editor
By ITN News Editor August 3, 2018 13:30
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