Apple Becomes First $1 Trillion Worth Publicly Traded Company in The World
The milestone came shortly after Apple's shares rose today by 2.7 per cent and traded at a record-value of $207.5.
Washington, Aug 2: Tech giant Apple reached the pinnacle of its fiscal strength on Thursday, trading at the highest value-ever in its four decades of existence. The Silicon Valley-based company has become the first among the publicly traded firms to cross net worth of US $1 trillion.
The milestone came shortly after Apple's shares rose today by 2.7 per cent to a record-value of $207.5. Markets have called it an unprecedented achievement which no entrepreneur, despite being loaded off with billions in investment, could dream of within a four-decade span.
Market observers, on this occasion, also recalled the period in 1997 when Apple was on the verge of bankruptcy. At that time, the company took the landmark decision of re-inducting its co-founder Steve Jobs as an interim CEO.
Late '90s was also the period when Apple was compelled to seek $150 million loan from arch-rival Microsoft to stay afloat.
Jobs proved critical for the company's fate in the next two decades, as he introduced the iPod and iPhone range of products, which not only proved to be an instant hit, but ended up being the market-leaders in the segment to this date.
(The above story first appeared on LatestLY on Aug 02, 2018 10:04 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).