However, because the company readjusted its share count due to buybacks at the close of Q3, Apple's stock price actually needed to hit about $207.05 per share before it can claim the title as the first trillion dollar company. Apple announced $100 billion in stock buybacks on May 1, the largest repurchase ever by a USA public company.
In 2006, the year before the iPhone launch, Apple generated less than US$20 billion in sales and net profit just shy of US$2 billion.
During that time, Apple evolved from selling Mac personal computers to becoming an architect of the mobile revolution with a cult-like following.
Apple's market milestone represents a remarkable turnaround for a company that was teetering on the brink of bankruptcy in the late 1990s, just before the return of visionary co-founder Steve Jobs.
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In fact, prosecutors said last week they don't expect the word "Russia" to be mentioned at all. Should Manafort be convicted, the investigation by Mr Mueller could gain some momentum.
Apple Chief Executive Tim Cook has a trillion reasons to smile. Jim Cramer, for example, recently argued that Apple shares could start approaching $300.
Bullish investors have rallied after the company's results for the June 30 quarter that handily beat Wall Street forecasts and its upbeat guidance for the September quarter with refreshed products expected this fall. Apple said it now has 4.83 billion shares outstanding.
Even with its US$1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive.