Wall Street Journal when Apple hits $1 trillion market cap.
Apple hit a $1 trillion market cap on Thursday, making the iPhone maker the first publicly traded U.S. company to reach the record valuation.
The stock rose nearly 3 percent following a strong third-quarter earnings report earlier this week, briefly hitting a session high of $207.05 in midday trading before falling back below $207.
Based on a recently adjusted outstanding share count of 4,829,926,000 shares, a stock price of $207.05 nudged Apple over the finish line in the race to one trillion.
Investors had previously been looking for a share price of $203.45, but the company's hefty stock buybacks moved the threshold higher.The Dems weigh in:
- Barack Obama: Apple didn't make that. Trump's corporate tax windfall did that.
- Joe Biden: That's a f**king big deal.
- Hillary: All my classified e-mails are locked up in an iPhone 4.
- Maxine Waters: we need to impeach Tim Cook. And Trump.
- Nancy Pelosi: $1 trillion? Just crumbs.
- Chuck Schumer: Apple has six ways to Sunday to get to $2 trillion.
- Occasional Ortez: $1 trillion? That would pay for healthcare for all! Nationalize Apple! Now!
- Pocahontas: And this is exactly what the big banks are going to do. Getting way too big. We need to stop Tim Cook now.
- Jeff Bezos: But who ships all those iPhones?
- To China? Wallace "Fred" Smith
- Warren Buffett: My biggest mistake ... waiting too long to sell IBM before I bought AAPL. I didn't know what Apple sold ten years ago. I didn't understand the business model.
- Elon Musk: Do we need to put an iPhone on Mars? I think so.