Apple becomes world's 1st trillion-dollar company

Apple becomes world's 1st trillion-dollar company

Apple earlier in the day became the first US public company to be valued at $1 trillion dollars.

Still, the iPhone maker's stock is still up 2.3% on Thursday, and up 31% over the past year.

The tech giant's stock jumped 2.8% to as high as $207.05 in afternoon trading in NY.

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Apple is not the first publicly traded company in the world to surpass the trillion dollar mark though.

To put that into perspective, Boeing's market capitalization is about $204B.

"I think it just speaks to just how powerful the Apple ecosystem has become over the last few decades", GBH Insights analyst Dan Ives told CNBC.

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Apple crossed the threshold in Thursday trading following a strong third-quarter report that showed earnings beat expectations and also showed increased revenue from the technology giant's services and software businesses. Some market observers consider U.S. tech stocks to be overvalued, but few think we're in a bubble.

The computer and mobile phone giant, co-founded to sell personal computers by the late Steve Jobs in 1976, reached the watermark after its shares hit $207.05, the day after it posted strong financial results.

A company's market cap is calculated by multiplying the number of shares outstanding by its stock's share price.

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Apple said in a quarterly filing to the Securities and Exchange Commission, or SEC, that its share count was 4,829,926,000 on July 20, less than the 4,842,917,000 it reported on Tuesday for the end of the June quarter.

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