Apple creates history with $1 trillion market cap

Apple creates history with $1 trillion market cap
The Siliconreview
03 August, 2018

Apple has created history by becoming the first private company to achieve a market capitalization of $1 trillion. Apple’s shares were traded at over $207, pushing its total evaluation past the historic mark. Most experts agree that the sales of the iPhone X can be attributed to the surge in margins, resulting in positive revenues and in turn, the memorable valuation.

While the overall sales of the iPad and the Mac books have not increased significantly, Apple has enjoyed high revenues from its services, namely, Apple Music, iCloud and iTunes and so on. But the Silicon Valley behemoth has had excellent sales of the iPhones. While most observers agree that this valuation is temporary, it still does not change the fact that Apple is more than just a brand. It is a culture by itself in many ways. Apple CEO Tim Cook thanked more than 1,20,000 employees in a memo, stating that the achievement is simply the result of the company’s innovation, placing its products and customers above everything else.

Apple was founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. Wayne sold his share to Jobs and Wozniak shortly after the founding. The company later went public in 1980, making many of its employees and shareholders millionaires. Jobs was fired from his company after an internal power struggle, which was followed by a very tumultuous period for Apple which lasted more than a decade. Steve Jobs would return to Apple following its acquisition of NEXT. The rest, as they say is history.