Apple becomes a trillion-dollar business
Apple is a brand that elicits some of the most fanatical followers in the tech world, and with its roster of desirable products it seems they have finally hit their target of becoming the world's first public company to be worth $1 trillion (£767bn).
On Thursday the company’s share price closed at a record setting $207.39, resulting in this new record valuation. Interest in the company’s stock had been gathering pace following Tuesday’s announcement of better than expected financial results for the three months to June.
The company's rise is not to be understated, with its value rising more than 50,000% following its initial offering back in the early 1980’s. Despite facing recent criticism for increasing product prices, its customers have continued to buy into the range despite the introduction of the first mobile handset with a starting price of $999.
Apples share's have jumped more than 33% over the past year, with much of this value coming off the back of its mobile division. iPad and MacBook computers have also seen a rise in demand helping bolster growth across the entire product range.
The title of “World's first public company to be worth $1 trillion” could soon be applied to a bunch of Silicon Valley businesses with Google, Amazon and Microsoft all closing in. With the developing world continuing to move online the sky’s the limit for this large tech businesses.