“Apple is within striking distance of a trillion dollar market value,” Paul R. La Monica reports for CNNMoney. “The iPhone maker is currently worth about $935 billion, and the stock needs to go up more than 7% for it to top the mark.”
“But if Apple wows investors when it reports earnings Tuesday afternoon, there’s a chance it could become the first US company to cross the trillion dollar mark,” La Monica reports. “Apple isn’t the only tech giant closing in on a trillion dollar mark though. Amazon is worth a little more than $870 billion. Google owner Alphabet has a market valuation of nearly $845 billion. And Microsoft’s market cap is now just under $815 billion.”
“But if Apple, Microsoft, Google or Amazon eventually top the trillion dollar mark, none of them would be the first publicly traded company in the world to do so,” La Monica reports. “Oil giant PetroChina briefly surpassed a trillion dollar valuation in 2007 when its stock began trading in Shanghai, but shares quickly plunged. PetroChina, which is also listed on the New York Stock Exchange, is now worth about $220 billion.”
Read more in the full article here.
MacDailyNews Take: PetroChina doesn’t count. Come on. Only Apple-haters will stammer, “But, but, PetroChina” when Apple becomes the world’s first true trillion-dollar company.
For some perspective, since $1 trillion is difficult to comprehend, U.S. federal government spending has averaged $2.045 trillion per year between 1950 – 2018.
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