Apple Crosses The $1 Trillion Mark
That's 12 zeros, dawg.
Thu Aug 02 2018 16:00:00 GMT+0000 (Coordinated Universal Time)
The seemingly inevitable has happened -- Apple has officially crossed the $1 trillion (yes, trillion with a 't') mark, becoming the first company in American history to do it. That's a lot of damn money. Apple hit this valuation after their stock price rose to just above $207 (up 20% this year alone).
It was an unofficial race between tech giants Apple, Amazon, Alphabet (Google's parent company), and Microsoft to see which company would hit the trillion dollar mark first, but Apple pulled a Usain Bolt and made the race look easy. Amazon is worth about $875 billion, Alphabet around $850 billion, and Microsoft is worth around $800 billion.
Apple's jump was fueled by their new, expensive ass iPhones -- such as the X. The iPhones sales only rose 1%, but the revenue from them went up 20%, bringing in $53 billion in revenue. Sheesh! Other services like Apple Music, Apple Pay, iCloud and such brought in just under $10 billion in revenue.
Apple isn't the first public company to hit the trillion dollar mark, as PetroChina hit the milestone in 2007 (but soon fell off tremendously). Saudi Arabian Oil is owned by the state and is rumored to be valued around $2 trillion if they ever decide to go public. Not very likely, but it's worth noting.
Here are some thing you could buy for $1 trillion:
- Every sports team in every sports league. Literally. All of them.
- The most expensive car ever sold was a 1963 Ferrari at $38 million. You could buy over 26,000 of those.
- You could put 8 million people through all four years of college
- You could spend $1 million PER DAY for the next 3,000 years.