Apple Becomes 1st Private Company Worth $1 Trillion

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Apple

American tech giant Apple is now the world’s first public/private company to worth $1 trillion. The company beat Amazon and Microsoft to achieve the fate as its shares closed at a massive $207.39 record high. Apple smartphones played a major role in this success as the company has sold more than a billion iPhones over the years.

Apple’s profits jumped more than 30 percent to $11.5 billion in the second quarter of this year, despite selling fewer iPhones. Just last year, Apple’s sales hit $229bn, with profits of $48.4bn, making it the most profitable listed US company. Just behind Apple or Amazon and Microsoft, which are also in the race to achieving the same fate.

Records showed Apple shipped 41.3 million iPhones, claiming 12.1 percent of the global market. The company accounted for 14.7 percent of smartphones sold in the world in 2017.

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