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The iPhone company maintains its role as a 21st century kingmaker as it\u00a0becomes the first publicly traded U.S. company to hit $1 trillion in stock market valuation as its stock rose 3% after their strong third-quarter earnings report.<\/p>\nAmerica went 242 years without a trillion-dollar company, until Apple happened.<\/p>\n
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A new benchmark has been set by Apple.<\/p>\n
The iPhone company maintains its role as a 21st century kingmaker as it\u00a0becomes the first publicly traded U.S. company to hit $1 trillion in stock market valuation as its stock rose 3% after their strong third-quarter earnings report.<\/p>\n
Apple is now the second trillion-dollar company as Jeff Bezos\u2019 Amazon rose as much as 1.9% to $2,050.50 in New York during August, sending its capitalization above $1 trillion for the first time.<\/p>\n
Apple is not the first in the world to cross this milestone\u2014Chinese oil company PetroChina\u00a0hit $1 trillion in market cap<\/a>\u00a0in 2007. (It has since crashed and lost 80% of its valuation.) Privately held\u00a0Aramco<\/a>, the Saudi oil giant, valued at $2 trillion by investors, is not yet listed publicly.<\/p>\n Another way to attempt to show how massive an amount the number one trillion represents, consider that the\u00a0average apple picker<\/a>\u00a0in the US\u00a0picks about 15,500 lbs of apples per day. To pick 1 trillion pounds, it would take about 176,756 years.<\/p>\n Amazon became the second American company to cross that once-unimaginable line.<\/p>\n Its shares rose as high as $2,050.50 on September 4th, pushing it over $1 trillion in value, before immediately falling back and then ending the day at $2,039.51, below the $1 trillion threshold.<\/p>\n\n
Immediate competition<\/h2>\n