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The company has seen exponential growth in its share price since the introduction of the iPhone in 2007
US technology manufacturer Apple has become the first publicly traded company to be valued at over a trillion dollars.
The announcement came as shares in the company reached an all-time high of $207.39 per share.
To put Apple’s valuation into context, its trillion-dollar net worth would make it the world’s 16th biggest economy, if Apple were an independent nation. That is no mean feat for a company that spent its first few years of trading headquartered out of its founder’s garage.
Since the company first listed its shares on the New York Stock Exchange ($0.51 per share in 1980), the company’ s stock price has risen by a staggering 50,000 per cent.
In 2007, the launch of the iPhone catapulted Apple to the forefront of the smartphone market, generating huge revenues for the company and transforming it into a household name. Since the introduction of the iPhone, Apple’s share price has risen by 1,100 per cent in a little over a decade.
This year, Apple has enjoyed success with the launch of its iPhone X which has helped to buoy the company’s Average Return Per User (ARPU) and has nudged up its share price still further.
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