Apple marches closer to the $1 trillion mark

Apple marches closer to the $1 trillion mark
The Siliconreview
01 August, 2018

Apple posted its results for the third quarter and it has exceeded the expectations of analysts. The company’s stock increased by 2.5% approximately, taking its market to a staggering $956 billion. It was already predicted a couple of years ago that the iPhone maker may very well be the first private corporation ever to achieve the trillion dollar mark. That prediction is all set to come true as Apple’s performance has exceeded the expectations of analysts and investors.

In the second quarter, Apple announced that it would return $100 billion to investors in a new capital return program, raising its stock considerably. If, or rather, when Apple achieves the distinctive market capitalization, it would cement its place in the history books.

With a $1 trillion cap, Apple’s evaluation will be in a league with the top 16 countries, each of which has a nominal GDP of $1 trillion or more. In other words, it means that Apple will be richer than all but 16 countries in the entire world. Not bad at all for a company that was started in a garage and went on to usher in the personal computer revolution, only to suffer losses that resulted in its legendary founder Steve Jobs being sacked. Jobs would later return to Apple and launch the iPhones, paving the way for his company to achieve stratospheric success and capture the world’s imagination. The story of Apple is no less than a fairytale, propelling its late founder to a quasi mythical stature in the world of business.