Apple has added another feather in its cap by becoming the first publicly listed US company with the market value of more than $1 trillion. Apple achieved this feat on Thursday, and its shares closed at a record high of $207.39.
After the news, Apple’s CEO Tim Cook released a memo to employees thanking them for their hard work.
“Today Apple passed a significant milestone. At our closing share price of $207.39, the stock market now values Apple at more than $1 trillion. While we have much to be proud of in this achievement, it’s not the most important measure of our success.”
“It’s you, our team, that makes Apple great and our success is due to your hard work, dedication, and passion,” he added.
Apple has beaten other rival companies including Amazon, Microsoft, and Alphabet.
Since the sale of the first iPhone in 2007, shares of Apple have experienced an astonishing growth of 1,100% and a mammoth 50,000% since the company first listed itself on the stock market in 1980.
This achievement is the evidence of Apple’s long-standing dominance in the industry. With new iPhones, iPads and Apple Watch set to release in the fall, it seems that another successful year awaits Apple.