Apple became the first U.S. company with a market capitalization of $1 trillion

ECONOMY

Basereporter.com August 2. Apple became the first American company whose market capitalization at the time exceeded $1 trillion, according to the auction on NASDAQ. On 2 August the company’s shares jumped to $207,05 per share.

Later, the company’s stock price has dropped to $206,6 19:48 GMT. For the current year the stock prices of Apple stock rose 22%.

Program error led to premature announcement of the record

The application program for Apple’s tracking stock quotes Apple Stocks prematurely announced that the Corporation’s market capitalization has reached $1 trillion. As reported by the newspaper The Independent, the information on the record was based on erroneous data entered into the program.

Apple on Tuesday 31 July published its quarterly report on the results of its financial activities, which were better than expected in the market. Because of this, the company’s stock prices went up and their total cost very close to $1 trillion. However, simultaneously with the publication of the report, Apple held an operation to buy back its shares, which led to a reduction in the number of these securities traded in the market.

As writes the edition, as a result, the share price needed to exceed threshold of $1 trillion, up from $204 to $207,05. Data on the redemption of shares has not been transferred into the program Apple Stocks, so she prematurely gave data on the excess capitalization of $1 trillion.

Petrochina could not hold on to the trillion mark

The only company in history, the capitalization has reached $1 trillion, before today, was the Chinese oil and gas group Petrochina. November 5, 2007, the company introduced its shares on the Shanghai exchange. Due to excessive demand the capitalization of the company for a few days soared to $1 trillion, but soon she began to fall in price rapidly.

A year later, in November 2008, including the effects of the global financial crisis, Petrochina was worth five times less – $200 billion currently, its market capitalization of $196 billion.

Apple pleasantly surprised investors

According to the report, Apple in the third quarter of the financial year, the company earned a net profit of $11,52 billion, 32% more than the same period last year, revenue rose 17%, to $53,26 billion.

The company noted that it is the best indicator in the third quarter for all years. Apple expects its revenues in the fourth quarter of this year will amount to $60-62 billion.

Founded in 1976, Apple manufactures iPhones, iPads, MacBook laptops, iMac desktop computers, iPod music players, and other high-tech equipment. Corporation with headquarters in Cupertino (California) is one of the largest in the world.

Besides Apple to trillion-dollar milestone close Amazon, which is now estimated at $870 billion and Alphabet with a market capitalization of $850 billion.

 

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