Apple’s share price just hit the magic number of $207.05 per share making Apple the first U.S. publicly-traded company to hit a landmark $1 trillion valuation.
On November 5, 2007, A shares of PetroChina on the first day of trading after its IPO on Shanghai Stock Exchange skyrocketed from the IPO price of 16.7 RMB to 43.96 RMB by the close (the opening price was even 48.6 RMB). That briefly gave PetroChina a market capitalization of about $1 trillion.
Market capitalization (market cap) is the market value of a publicly traded company’s outstanding shares. Market capitalization is equal to the share price multiplied by the number of shares outstanding. Apple currently has 4,829,926,000 shares outstanding.
While we expect it to oscillate back and forth across the trillion-dollar line for a while, on August 2, 2018, Apple Inc.’s market value first hit US$1 trillion!
The garage where Steve Jobs and Steve Wozniak started Apple in Silicon Valley at 2066 Crist Dr. in Los Altos, California (photo: MacDailyNews.com)
Apple’s stock has risen more than 50,000% since it first listed in 1980. That compares with a (mere) 2,000% rise for the S&P 500 in the same period. — BBC News, August 2, 2018
