05 September 2018
Apple has become the world’s first trillion-dollar company by reaching a closing price of US$207.39 on Thursday. The Cupertino giant became the first publicly listed U.S. company to ever reach US$1 trillion in market capitalization.
Tim Cook stated in an internal memo, that the US$1 trillion market capitalization was "not the most important measure" of the company's success, but it was the result of the company’s focus on its products, customers and company values. The company’s stock has rallied after better than expected results in the last quarter. The company’s stock is up by 9 percent since Tuesday, has according to reports it has bought back $20 billion of its own shares.
"Financial returns are simply the result of Apple’s innovation, putting our products and customers first, and always staying true to our values," Cook said in the memo.
Apple was founded in the late 1970’s by Steve Jobs and went public in 1980. Over the past 2 decades, the company has risen to great heights with its innovative offerings.
"Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges — and that the people who are crazy enough to think they can change the world are the ones who do," Cook wrote in the memo.
"Just as Steve always did in moments like this, we should all look forward to Apple’s bright future and the great work we’ll do together."