“The people who are crazy enough to think they can change the world are the ones who do” – Steve Jobs was crazy enough to start Apple, and Tim Cook and his team are definitely crazy because for only the second time in the history of mankind has a public company touched the trillion-dollar mark.
That’s right, count the number of zeroes in that number – it’s twelve – $1,000,000,000,000! PetroChina has been the first and only company which hovered around that much of valuation for a small period, other than Apple.
Apple’s Market Domination
The best-selling product of the tech giant, after the Macintosh in the early days, has been the iPhone. In the first quarter of this year, 15.6% of all smartphones sold around the world were Apple iPhones.
The garage startup which once owned 2.4% of the market shares is has now grown to 15.6% and is continuing to grow further.
Although the budget phones of Samsung own the majority of market shares at 21.9%, the growth rate is not as fast paced as Apple’s. In the coming years, the iPhone maker is valued at about 35% of the world smartphone market.
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How Big Is Apple Now?
According to the New York Times, the company is now worth more than the entire American media industry, including Netflix, Comcast and Disney, and all major news publishers and TV channels. It doesn’t stop there – Apple is valued more than the GDP of 180 countries around the world, leaving just the 15 richest countries.
CEO Tim Cook mentioned that the trillion-dollar market valuation was a significant milestone in the company’s journey, but not yet the most important measure of success. Seems like the folks at Apple are ready to connect the dots to go even higher!
Tech giants like Google, Microsoft, Amazon, Alphabet, Facebook are all below Apple in stocks. Apple is currently valued $50 billion more than the combined value of all 30 Sensex companies!
Apple’s stocks crossed $207.05 per share on the morning of August 2nd putting its market value slightly over a trillion at $1,001,679,220,000.
The world market always being volatile, will definitely rock the company above and below the trillion-dollar mark, but the incredible financial feat still remains a historic one.
What Contributed To The Gigantic Success?
The iPhone drives Apple towards financial success with the launch of every new model. The flagship model iPhone X has provided 35% of the company’s profits despite being brought out for sale late in the fourth quarter last year.
Apple sold 52.2 million iPhones in the last quarter, accounting for almost about $38 billion of its revenue. The iPad, Apple Watch, iPod might also have been successful, but iPhone has contributed the most to its unprecedented growth in the market.
Although Alphabet rose by 85% and Alibaba Group rose by 94%, Apple soared a mere 60% in the past year, but the trillion dollar cap was always closer to the iPhone maker.
Steve Jobs once said, “If you really look closely, most overnight successes took a long time.”
42 years in the making Apple finally reached a trillion-dollar valuation in the world market. Even Jobs’ far foreseeing vision wouldn’t have seen this coming! But beware, Amazon and Google are trailing close behind.
Image Source: Google Images
Sources: Times of India, CNET, The Guardian
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