Apple officially becomes the first $1 trillion company

Why Apple is inches away from $1 trillion valuation

A day after posting strong results for the third quarter of fiscal 2018, Apple has become the world's first publicly traded company with a market capitalization of over $1 trillion.

Average analyst price targets put Apple's stock market value at $1.05 trillion, Amazon at $1.02 trillion, Alphabet at $970 billion and Microsoft at $953 billion, according to Thomson Reuters data.

Apple first listed in 1980 and its stock has risen more than 50,000% since then.

The company's fortunes were turbocharged by the launch of personal gadgets such as the iPod in 2001 and the iPhone in 2007.

The market cap is the company's total market value, calculated by multiplying the value of its stock times all shares outstanding.

Apple generates billions from hardware sales: It had $29.9 billion in iPhone sales, up 20% year over year, for the June 30 quarter.

More recently, Apple has been in a race to $1 trillion with Seattle-based e-commerce giant Amazon, which is now valued around $879 billion.

Hot on Apple's heels is Amazon.com, the second-largest listed USA company by market value, at around $880 billion, closely followed by Google-owner Alphabet and by Microsoft. The mighty one $1 trillion valuation of Apple is no more a dream for Tim Cook and Team. It did not reach the $100 billion mark until May 2007, but five years later the technology giant reached a value of $500 billion. He told Cheddar that the iPhone maker should've crossed the $1 trillion threshold long ago.

Wall Street thinks Apple shares can go even higher too. Fast forward 21 years, and today the very company has created the history by becoming the first tech company in the world with a valuation of $1 trillion. Shares of Apple this week traded at about 15 times expected earnings, compared with Amazon at 82 times earnings and Microsoft at 25 times earnings. That's not only fair; it's a more sustainable approach, too, and perhaps even admirably old-fashioned.

And in 5 years maybe Canada will be worth less than the company that sold you your phone.

The first company to hit $10 billion in market capitalization.

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