Apple just became the first $1 trillion public company
- Author: Darren Santiago Aug 04, 2018,
Aug 04, 2018, 4:46
During the day, the share price of the iPhone maker jumped by 2.8% to $207.05, passing the $1tn (£762bn) mark in NY trading.
The trillion-dollar ceiling has been broken.
The iPhone maker's stock has risen about 9% since Tuesday when it reported better than expected results for the three months to June. It was Apple's best two-day run since April 2014.
"The tendency of so many people in tech to presume an Apple product will fail because it makes choices that they wouldn't have made is one of Apple's greatest competitive advantages", Evans said in a missive fired off on Twitter. While we have much to be proud of in this achievement, it's not the most important measure of our success. It now accounts for 4 percent of the S&P 500.
Apple's earnings for the second quarter revealed that the company was in good financial health. In a call with investors, CEO Tim Cook also touted growth in other areas such as smart home products, wearables, and services like the App Store and Apple Pay.
Looking at Apple's current financial health, Michael is spot on.
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Next fiscal year, Wall Street predicts, earnings per share will rise 15%, and the one after that, 12%.
"We still see upside from it, and as new money gets deposited we continue to buy, preferably on the dip", Carbone said.
"There was so much magic in Apple Computer in the early '80s that it is hard to believe that it may fade away".
Wall Street loved it. Apple climbed almost 9 percent since the earnings report. "Given our confidence in Apple's future, we are very happy to announce that our Board has approved a new $100 billion share repurchase authorization and a 16 percent increase in our quarterly dividend", he added.
Even with its $1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive.
True, Apple's earnings growth rate is slowing down. Apple achieved this feat on Thursday, and its shares closed at a record high of $207.39.
And while online pre-orders and global product releases have whittled down the long, colorful queues at Apple shops on iPhone launch days, throngs still make pilgrimages to lay hands on devices.