Apple hits record market capitalisation of $1 trillion

Apple Just Broke $1 Trillion Barrier

The amount of payout to Cook every year can vary significantly depending on where Apple stands relative to other companies in the S&P 500 index. PetroChina, which is also listed on the New York Stock Exchange, is now worth about $205 billion. Not to mention it wasn't a wholly public company. Apple - the biggest public company in the world - had 4,829,926,000 shares outstanding as of July 20, which meant its stock had to hit $207.05 to be worth $1 trillion. The most bullish, Brian White of Monness, Crespi, Hardt & Co., has a price target of $275 a share.

Such high share prices would place the Cupertino giant value at $1.3 trillion.

Apple's recent strength, on a technical basis, can be tied to a successful defense of support at its 50-week SMA in April (see chart below). One of three founders, Jobs was driven out of Apple in the mid-1980s, only to return a decade later and rescue the computer company from near bankruptcy.

USA tech companies have cemented their position in the broader market, now making up the top five most valuable enterprises based on share prices.

Even the newly designed family of operating systems, applications and hardware including Apple Watch, Home Pod, Apple Pay and Apple Music are performing incredibly.

Amazon (AMZN.O), Microsoft (MSFT.O) and Alphabet (GOOGL.O) are locked in a tight race to become the second publicly-listed US company to reach a $1 trillion stock market value after Apple (AAPL.O) became the first to touch the 13-digit milestone.

But Cook has gradually won accolades from investors by pumping out a series of solid financial results and spreading Apple's products to China and other foreign markets.

Cook's ambivalence to the $1 trillion mark mirrors what he told CNN's Laurie Segall in June.

"Just as Steve always did in moments like this, we should all look forward to Apple's bright future and the great work we'll do together".

Apple's earnings for the second quarter revealed that the company was in good financial health.

But Amazon's market capitalization would overtake Apple's later in 2018 if both companies shares were to continue their 12-month growth pace.

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