Apple becomes first company to be valued at $1 trillion
Apple has seen a steady rise of its shares since it posted profits of $11.5 billion for its recent financial quarter which follows sales of more $53 billion
Apple has now become the first publicly traded company to be valued at $1 trillion, according to reports. The maker of the iPhone has passed the historical mark as its shares touched a record high of more than $207. Apple has seen a steady rise of its shares since it posted profits of $11.5 billion for its recent financial quarter which follows sales of more $53 billion.
Since Apple first listed in 1980, the company's share price has grown by more than 50,000 per cent. The company went through a revolution when it launched the iPod in 2001 and the iPhone in 2007, which catapulted its growth.
Last year, the company laid out its plan to take on competitors, Amazon and Netflix, after hiring Jay Hunt, former Channel 4 executive, to head its content production.
According to reports, Apple has spiked its original content spend, currently around $1 billion, to $4.2 billion by 2022 with relation to important investments into Apple Music.
Apple’s advertising has been instrumental in its success. According to reports, it is believed that the company has put more than $118 million into TV during the second quarter of 2018, up from 35.8% from the same period in 2017.
Apple's closest rivals to the trillion-title were Amazon, currently worth $883 billion, and Alphabet, Google's parent company worth $845 billion.
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