Apple is first public company worth $1 trillion

Apple has become the world’s first public company to be worth $1 trillion (£767bn).

The iPhone maker’s market value reached the figure in New York on Thursday and its shares closed at a new record high of $207.39.
Apple beat Silicon Valley rivals such as Amazon and Microsoft to become the first to hit the $1 trillion valuation.
Since the iPhone first went on sale in 2007, Apple shares have soared by 1,100% and have jumped almost a third in the past year.
The rise is even more astonishing – 50,000% – since the company first listed in 1980. That dwarfs the 2,000% increase for the S&P 500 index over the same period.
Apple traces its origins to the garage of co-founder Steve Jobs in 1976 and was initially best known for its Mac personal computers before its smartphone paved the way for the app economy.

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