Apple Inc. is now the first $1 trillion US company
Apple Inc is now the first $1 trillion US company. It achieved the valuation basis steady gains after its June-quarter results were released on Tuesday. Steve Jobs co-founded Apple in a garage in 1976. Its revenues today exceed the economic output of countries like Portugal and New Zealand.
Apple accounts for 4% of the S&P 500, the American stock market index. Its stock market value is more than Exxon Mobil, Procter & Gamble and AT&T combined. The ubiquitous iPhone has fuelled Apple Inc’s astronomic rise over the years, accounting for a bulk of the company’s revenues.