It's been headed this way for a while, but it is now official: Today, Apple became the first private-sector company ever to be worth $1 trillion dollars. The company's share price is around $206 right now but it was over $207 briefly, setting an all-time high for the tech juggernaut.
As reported by NPR, Apple's share price rose 8% after the company shared news of impressive quarterly earnings. CEO Tim Cook reflected on the growth of a host of products and services as the reason for the positive performance. The report suggests that Amazon is the likely next candidate for the $1 trillion club. Alphabet (Google), Microsoft, and Tencent are also in the top tier of market value at this time.
Apple has reached this point despite a few missteps, including a recent error that's crippling the MacBook Pros that use the core i9. The future continues to be bright, though, and you can read up on upcoming changes for Apple by checking out the breakdown of their showing at WWDC 2018, including the Mojave OS, Memojis, and more.
Stay tuned to Shacknews for additional updates and place your bets on who joins the $1 trillion club next.
Charles Singletary posted a new article, Think Different: Apple is the first U.S. company to be valued at one trillion dollars
I still think they're overvalued, but good on them.
And they still can't update their lineup once a year like companies worth a 10th of this do.