Apple just became the first $1 trillion public company

Apple Stock Buyback Tops $20B In Second Quarter

"The $1 trillion mark is more psychological, and sends a message of growth and size into the market", said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

Apple closed Thursday above the $1 trillion mark, finishing the day up 2.92 percent at a share price of $207.39.

Steve Jobs and a few other people created Apple 42 years ago in Cupertino, California.

Growth is coming from different sources, too, notably iPhone price increases and sales of ancillary products.

The stock has been surging this week as anticipation mounts about the next generation of iPhone, expected to be released in September. Those earnings beat Wall Street expectations on the top and bottom lines, but iPhone sales fell slightly short. I still view Apple as a pretty small company, the way that we operate.

Still, concerns remained over the U.S.

Now it seems as if Apple is putting its foot on the R&D gas, hoping it will result in more innovation. The development has come after Apple posted its strongest ever earning in Q3. Now, it ranks as the ninth most valuable, surpassed by Apple and a list consisting primarily on companies immersed in technology. This made it hard to determine the company's actual value. But until the IPO is completed, Saudi Aramco's actual value remains murky.

The landmark is the latest victory for Apple chief executive Tim Cook, who faced skepticism when he took reins of the iconic technology giant in 2011. His vision, showmanship and sense of style propelled Apple's comeback. The iPhone, introduced by Jobs in 2007, has sold more than one billion units.

Hit parade: Apple pioneered personal computing back in the 1980s but almost went bankrupt in the 1990s.

There's a disconnect between the investment narrative about Apple and its profit reality. But when Apple bought NeXT in 1997, the company Jobs worked on in his absence from Apple, he returned to the company he co-founded and helped it restructure.

Cook has leveraged the legacy that Jobs left behind to stunning heights. Apple said it now has 4.83 billion shares outstanding. The value of Microsoft is also more than $800 billion.

Cook hasn't escaped criticism, however.

But the phenomenal success of the iPhone led competitors to mirror certain features like touch-screens featuring rows of colorful icons - and prompted Apple to pursue those competitors in court.

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