“Started in the garage of co-founder Steve Jobs in 1976, Apple has ballooned its annual revenue to $229 billion, greater than the economic output of countries including Portugal and New Zealand,” Christine Chan and Noel Randewich report for Reuters. “Along the way to its $1 trillion stock market value, it transformed the worlds of computing, music and mobile phones.”
“The Silicon Valley company’s stock has surged over the past decade on the back of the iPhone, while record share buybacks have recently fueled more gains,” Chan and Randewich report. “Since its initial public offer on Dec. 12, 1980, Apple’s stock has surged 50,000 percent.”
“Five companies have shared the title of most valuable company on Wall Street since 1980,” Chan and Randewich report. “IBM dominated in the 1980s when it accounted for as much as 6 percent of the S&P 500. General Electric reigned supreme for much of the 1990s and at the start of the 21st century, interrupted by Bill Gates’ Microsoft during the dot-com boom. A decade ago, Exxon Mobil’s stock market value grew larger than all others on Wall Street as the oil producer benefited from recovering demand following the global financial crisis. Apple overtook the oil giant and became the most valuable U.S. company in late 2011.”
Read more, and check out the images and graphs, in the full article here.
MacDailyNews Take: Only Apple.
Apple shares hit new all-time intraday and closing highs – August 2, 2018
Apple co-founder Woz reacts to landmark $1 trillion valuation – August 2, 2018
Apple hits landmark $1 trillion valuation – August 2, 2018
Charge higher prices.
Tim Cook should be replaced…
That’s not thinking different. Everyone seems to have that opinion these days (for right or wrong). 😉
WOW!, it’s such a historic day for Apple crossing $1Trillion.
Thank you Tim Cook and team for hard-works and efforts.
I wonder which analysts are going to say how Apple stock is in a bubble just ready to pop despite Apple’s P/E of 18. If I remember correctly way back in the dot.com era, most of the stocks with high market caps had very high P/Es. Apple is nothing like that but I’m sure some analysts will try to make a connection between Apple and some long-forgotten dot.com company.
Microsoft had a PE in the high 60s, when the bubble popped.
They better not ever f up the phone, because they have not brought their A game to any other area recently. And the new MacBook Pros are flawed. That did not happen in days of yore.
Exactly right. He has not screwed the cash cow pooch. But as you pointed out, Cook is clueless on everything else particularly Macs. Now that his resume is complete, he needs to go A.S.A.P. …
Sure. Apple never, ever messed up prior to SJ’s death. Never.
Sorry, but Apple messed up quite a bit. And the Apple of today is a much larger and more complex beast than the Apple that SJ was running in the mid-2000s. SJ wasn’t perfect. Apple was never perfect. There were bugs in MacOS software and Mac hardware back then, too. The ecosystem has grown more complex with the addition of cloud services and the App Store and new products like the AirPod and Apple Watch. More stuff and a greater degree of interconnection along with an increased focus on end-to-end encryption and security.
I want Apple to be perfect, too. And I agree that some of the mistakes that Apple has made over the past five years have been avoidable – should have been avoided, in fact. But to pretend that Apple has suddenly become flawed is simply untrue.
Wake up Apple Apologist.
They just passed the trillion dollar mark and have more money than any business, EVER.
They work out of the finest, most modern office building ever built by mankind.
With 100,000 employees, and all the finest resources in the world — you are making excuses for Apple they can’t handle a handful of new devices and services?!?
Only an apologist is blind and this irrational…
Anyone who has ever taken a course in computer science knows that simply adding more coders to a project beyond a certain level makes bugs more likely, rather than less. He or she also knows that the difficulty in maintaining code increases roughly with the square of the number of lines, not in a linear progression. As code grows older and the original programmers move on, making modifications safely also grows more difficult. As KingMel points out, the interconnections between all the components of the Apple ecosystem makes unanticipated side effects much more likely. Modern modular programming techniques can help with all these problems, but cannot eliminate them.
Even if Apple had a quadrillion dollars, it could not eliminate those difficulties. Another problem with Apple’s sheer size these days is that a 1-in-100,000 bug that probably would have remained invisible when any given Mac model only sold that many computers can now affect 1000 people, each of whom has access to social media to publicize the problem.
Expecting perfection is a noble goal, but it is simply unrealistic in practice. “The perfect is the enemy of the good,” so if Apple waited for perfection it would never ship anything. Bugs are bad, and should be condemned, but there is simply no credible evidence that Apple today is significantly worse than it was before Tim Cook took over, or any worse than its competitors.
“, but there is simply no credible evidence that Apple today is significantly worse than it was before Tim Cook took over, or any worse than its competitors.”
That is a typical Apple apologist response. You both acknowledged more interconnections and devices. So by sheer volume common sense dictates there are more bugs today than ever. All you have to do is follow MDN and the “credible evidence” is evident for years.
It would be great if an independent credible source documented all bugs since the 1980s into a spreadsheet where you can filter and measure results. In lieu of that, suffice it to say the bugs are more plentiful today.
I credit the tech press for pointing them out in real time and Apple quickly addressing the problems. No, there are more bugs today than ever. That said fanboy, you are entitled to personal denial ..,
i was never very interested in the trillion mark as it’s sort of an arbitrary number that changed with buybacks etc (arbitrary, should we now be looking for first 1.1 trillion company?) As an investor and not a fake milestone hype loving pro pundit I was way more interested in the percentage gain in my Apple stock.
still one interesting nugget, which 99% of the news outlets fail to emphasize or even note, is that Apple achieved that ‘milestone’ with an absurd low P.E. a fraction of the other big tech companies and even lower than the S&P average. Now THAT is worth notice, it’s not a dot.com bubble stock…. A company which as analyst PED says is valued like a ‘going out of businesss industrial ‘ is the one which broke the milestone.