Apple becomes world’s first trillion dollar company
Apple has become the first publicly listed US company to ever reach $1 trillion in market capitalisation (AED 3.67 trillion).
The iPhone maker crossed that milestone on Thursday when its stock price climbed past $207.04 a share.
Our correspondent Liling Tan, has the latest from New York.
It’s been a remarkable turnaround for the tech firm, which was on the brink of bankruptcy in 1997 when shares were worth less than one dollar.
In a memo to Apple’s employees, Chief Executive Tim Cook called the valuation a “significant milestone” that gave the company “much to be proud of.” But he added it should not be the company’s focus.