Apple Becomes World's 1st Private-Sector Company Worth $1 Trillion The tech giant and the world's most valuable publicly traded company became first to reach the milestone market value. Amazon is also approaching $1 trillion in value, but Apple got there first.
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Apple Becomes World's 1st Private-Sector Company Worth $1 Trillion

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Apple Becomes World's 1st Private-Sector Company Worth $1 Trillion

Apple Becomes World's 1st Private-Sector Company Worth $1 Trillion

Apple Becomes World's 1st Private-Sector Company Worth $1 Trillion

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  • <iframe src="https://www.npr.org/player/embed/632697978/635047813" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Apple, the world's most valuable publicly traded company, became the first to reach the milestone $1 trillion market value. Don Emmert/AFP/Getty Images hide caption

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Don Emmert/AFP/Getty Images

Apple, the world's most valuable publicly traded company, became the first to reach the milestone $1 trillion market value.

Don Emmert/AFP/Getty Images

Apple became the first private-sector company in history to be worth $1 trillion, after its share price reached an all-time high above $207 on Thursday.

The share price jumped by more than 8 percent this week after Apple reported impressive quarterly earnings on Tuesday, driven largely by strong sales for high-priced iPhones. In a call with investors, CEO Tim Cook also touted growth in other areas such as smart home products, wearable and services like the App Store and Apple Pay.

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The $1 trillion milestone is largely symbolic, though impressive. Apple's market capitalization — a common financial measure of worth that multiplies the number of shares by the share price — makes the company worth more than the economies of, for example, Saudi Arabia, Switzerland and Taiwan.

The tech company, launched from a garage in 1976, has been on a steady climb through the years, revolutionizing personal computers and phones with its Macs and iPhones. In recent years, Apple has been working to spread its cult-like following to newer devices like smartwatches, cordless headphones and smart home speakers.

PetroChina once had a $1 trillion valuation, but only briefly, and most of its shares were owned by the Chinese government.

Other technology companies with high-flying, trendy stocks are expected to join Apple in the $1 trillion club before long. In recent years, the financial world considered Amazon and Apple to be in the race toward the milestone. On Thursday, Apple finished first.