Apple is first public company worth $1 trillion

Marcio Jose Sanchez  Associated Press		The Apple Watch

So, China? These products, especially the iPhone, profoundly changed personal technology and computing. And at least for now - here comes Amazon! The number will likely still fluctuate as the stock market often does, but this is another milestone to add to Apple's long history. For them, superbig is automatically superbad.

Last month, an ex-Apple engineer was charged in California with stealing trade secrets from a hush-hush self-driving auto technology project days before he quit to go to a Chinese start-up.

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.

Of course that's just what happened. The story of Apple is really the story of modern capitalism doing what it does best: turning imagination into reality.

One of those is Canada, but Apple isn't that far behind us now. As a company gets bigger, its growth rate tends to slow down. With the company pretty much taking over the world with the iPod and several subsequent revolutionary products, it's no surprise that they have just become the first publically-traded company to be valued at over $1 trillion. The value of the company's stock has reached an all time new high of $208.38.

Nearly 1.4 million iPhones were sold in the first year they were on the market.

The first company to hit $100 million in market capitalization was a crucial railroad that connected New York City, Chicago, Boston, and St. Louis. Anxious that companies aren't spending enough on R&D? Consequently, Apple became the first United States company with a market cap of over $1 trillion. The stock price, a split-adjusted $76, was agreeable, at a 21% discount to the market, relative to earnings, and Apple held cash and investments equal to a third of its market value.

Like that's automatically a bad thing.

If a consumer truly loves using their iPhone to buy music and movies, Apple's hope is that they'll move on to purchase an iPad, a Macbook, an Apple TV or watch.

The symbolic stock market accomplishment is a "natural result" given Apple's winning steps, and is "certainly not the finish line", Creative Strategies analyst Carolina Milanesi reasoned in an AFP interview.

Even capitalism skeptics should be thrilled with that.

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