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Apple Becomes First Private Company To Hit $1 Trillion

Despite fears of sapped inspiration, slowing sales, tariffs and suffocating regulation, Apple is now shining brighter than any other private-sector company in history, as the first with a $1 trillion market value.
Since starting out in a family garage in Silicon Valley more than 40 years ago, Apple weathered boardroom drama, market missteps, and even a close call with bankruptcy on its path to the milestone, thanks to products that radically transformed lifestyles and the way we communicate with each other.
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.
Apple has sold more than a billion iPhones. The handsets account for more than half of the Cupertino-based company’s revenue.
In the second quarter of this year, the company recorded profits that jumped more than 30 percent to $11.5 billion, besting market expectations despite selling slightly fewer iPhones than analysts projected.
Apple’s revenue in the fiscal third quarter soared 17 percent to $53.3 billion from the same period a year earlier on the back of sales of pricier iPhones, online services and wearable devices.


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ChiChi Ujah said...