What’s better than being the leading tech company? Being the Trillion Dollar company.
2nd August was a monumental day for Apple as the company reached a milestone of being a $1 Trillion company. Apple will be the first company from the US to have a market capitalization of over $1 trillion. The strong Q3 earnings of Apple have surpassed the expectation of the company itself as well as the financial analysts. The earnings also forecast a financially strong quarter for Apple in the coming months.
The company hit a trillion mark when the price of single share was accounted at $207.05 per share. Considering the fluctuating nature of the stock market, there is a strong possibility that the company may not be in the same position for a while or it may keep on switching back and fro. While the tech giant the first company from the US to acquire this position, Amazon too could hit the milestone after its equally strong Q3 earning.
After the company was declared a Trillion dollar company, the CEO, Tim Cook sent across a memo to all of his employees, stating how the focus of the company is to concentrate on their customers and innovation of technology. “Today Apple passed a significant milestone. At our closing share price of $207.39, the stock market now values Apple at more than $1 trillion. While we have much to be proud of in this achievement, it’s not the most important measure of our success. Financial returns are simply the result of Apple’s innovation, putting our products and customers first, and always staying true to our values.”
He further added,“Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges – and that the people who are crazy enough to think that they can change the world are the ones who do. In today’s world, our mission is more important than ever. Our products not only create moments of surprise and delight, they empower people all around the globe to enrich their lives and the lives of others. 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.”