Apple became the first public company in the world to be worth $1 trillion. The iPhone makers market capitalisation reached the figure a few days back as its shares kept rising.
This meant that Apple reached touched the landmark before its closest rival – retail giant, Amazon. The company co-founded by the late Steve Jobs in 1976 reached the mark after its shares hit $207.05.
Hang on, it’s not just the trillion mark. Apple shares have increased by more than 50,000% since it first listed in 1980.
The rise was significant ever since the iPhone went on sale in 2007, the shares have soared by 1,100% and have jumped almost a third in the past 12 months.
Since 2007, 18 different iPhone have been launched and more than 1.2bn of the devices have been sold.
Apple hit the $1tn (£767bn) mark after publishing shares which brought the value of the company up from $935bn.
Apple finance chief, Luca Maestri, said: “Growth was strong all around the world,” we would hope so to hit those figures.
The company was launched in the garage of co-founder Steve Jobs four decades ago. Jobs passed away in 2011, but the legacy lives on in every Apple product.
His commencement speech at the 2005 Stanford University Graduation is widely considered one of the most poignant and impressive of all of his motivational phrases.
He said: “I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out. So, I decided to drop out and trust that it would all work out OK.
“It was pretty scary at the time, but looking back it was one of the best decisions I ever made.
“The minute I dropped out I could stop taking the required classes that didn’t interest me, and begin dropping in on the ones that looked interesting.
He added: “You can’t connect the dots looking forward; you can only connect them looking backward. So you have to trust that the dots will somehow connect in your future.”
The man is a true legend and it is no surprise that the company turned out to be so successful in such a short period.