"Um, not quite - How Trump's tax cut enabled the company to buy a record number of shares and pump up its stock price". On top of that, it has built a large and fast-growing business with the App Store, iTunes, Apple Music and other services, which pulled in $9.55 billion in sales in the most recent quarter. The quarter ending in June was Apple's fourth consecutive one to see revenue growth in the double-digits, fueling investor excitement.
Oil giant PetroChina (PTR) briefly topped a trillion dollar valuation in 2007 when its stock began trading in Shanghai, but shares quickly plunged afterwards. Here's a look at the so-calls "Fangs", tech firms that are growing at a quick pace; Amazon, is trailing at $885 billion, Google is at $850 billion, Facebook is at $503 billion, and Netflix is at $148 billion. Under Cook's stewardship, Apple has continued its meteoric climb, doubling its annual revenue to reach to $229 billion and quadrupling its stock since he took the reins.
To put that into perspective, Boeing's market capitalization is about $204B.
Apple also boasts the most popular smart watch on the market.
- Apple is the world's first publicly traded company to be valued at $1 trillion, the financial fruit of stylish technology that has redefined what we expect from our gadgets. As HuffPost reporter Emily Peck tweeted: "Did Apple get to $1 trillion through sheer innovation and ingenuity?" His ignominious departure came after losing a power struggle with John Sculley, a former Pepsico executive who he recruited to become Apple's CEO in 1983 - seven years after he and his geeky friend Steve Wozniak teamed up to start the company with the administrative help of Ronald Wayne.More news: Donald Trump attacks LeBron James in late-night tweet
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With a market cap of $1 trillion, Apple has a value greater than the gross domestic product of most countries in the world, including Turkey, Switzerland, Saudi Arabia and Taiwan.
Wall Street thinks Apple shares can go even higher too.
As a supplier of the cutting-edge screens used on the iPhoneX, this supplier is on the front lines of the products that will drive Apple's growth - and profits.
You see, Apple's huge resources also give the company the ability to streamline its production - something the company has pursued aggressively for the past year.
In a US regulatory filing this week, Cook warned tariffs being imposed in a US-China trade war could result in Apple paying more to make its products, eating into profit or forcing up prices for consumers.