The company's fortunes were turbocharged by the launch of personal gadgets such as the iPod in 2001 and the iPhone in 2007.
We'll be monitoring Apple's stock price closely to see if it's able to really become the first trillion-dollar company. 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. By a year ago, its sales had grown more than 11-fold to US$229 billion - the fourth highest in the S&P 500 - and net income had mushroomed at twice that rate to US$48.4 billion, making it the most profitable publicly-listed USA company.
The iPhone-maker entered the rarefied air of a 13-digit market cap as its share price hit $207.05.
The Countdown To 21st Century's Longest Total Lunar Eclipse Has Begun!
A super blue blood moon rises behind the 2,500-year-old Parthenon temple on the Acropolis of Athens, Greece, on January 31, 2018. Those of you in the United Kingdom should look for this eclipse starting in at around 11PM (that's 23:00 hours) local time.
A filing with the SEC yesterday showed Apple had revised its share count at 4,829,926,000 on 20 July, less than the 4,842,917,000 it reported on Tuesday for the end of the June quarter due to share buybacks.
The stock was last up 2.4 per cent at US$206.41, a hair below US$1 trillion. Incidentally, the trigger price for Apple to reach a trillion-dollar valuation has been slowly creeping upwards as the company continues to aggressively buy back shares as part of its capital return program. Since 1980, IBM, Exxon Mobil, General Electric and Microsoft have also alternated as the largest publicly listed USA company. That put Apple on a path to overtake Exxon Mobil in 2011 as the largest USA company by market value.