Apple becomes world's first public company worth $1 trillion

Apple Buybacks May Total $21 Billion in Q2

Apple became the first $1 trillion on Thursday, briefy crossing the lofty mark in a closely-watched rise in stock market history.

The company's fortunes were turbocharged by the launch of personal gadgets such as the iPod in 2001 and the iPhone in 2007.

The iPhone-maker's shares struck an all-time high of $207.05 during trading in NY, pushing its market capitalisation past the landmark trillion-dollar level to $1.02 trillion.

The company's stock was at $205.98, up 2.2 percent near 1555 GMT.

The ailing Jobs handed the corporate reins to his chief lieutenant, Cook, in 2011.

Observers condemn army violence as Zimbabwe awaits election result
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The $1 trillion milestone is largely symbolic, though impressive. "A clean beat on the path to $1 trillion". Apple's market capitalization - a common financial measure of worth which 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. Jim Cramer, for example, recently argued that Apple shares could start approaching $300. Also propelling Apple higher in recent months was Apple's announcement that it earmarked US$100 billion for a new share repurchase programme.

Apple first listed in 1980 and its stock has risen more than 50,000% since then.

Wall Street loved it. Apple climbed almost 9 percent since the earnings report. Amazon is valued at $870 billion, Google-parent Alphabet has a market valuation of $850 million and Microsoft's market cap is at just under $815 billion.

Even with its US$1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive.

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