Apple is now a $1 trillion company
That's a lot of iPhones.
Apple's success hit a new milestone today: It's the first publicly traded trillion-dollar American company. Yesterday the firm announced an adjusted (higher) share count, and by this morning the stock price was rising with news that the company had almost hit the trillion-dollar mark. As spotted by 9to5Mac, the iOS Stocks app (pulling from Yahoo Finance) declared it had crossed the threshold this morning, but Google Finance didn't agree. The stock price was hovering around $205 per share earlier today and has steadily rose as the trading hours pass, with CNBC reporting that stock price temporarily hit the $207.05 per-share needed to hit the record-setting market cap before falling back.
A strong earnings report, MacBook sales notwithstanding, where international sales bolstered the tech juggernaut's bottom line certainly helped, but this has taken the company -- founded in 1976 -- almost 50 years. A massive investment (75 million shares purchased earlier this year) from Warren Buffet's Berkshire Hathaway gave the company a boost as well. Where to go from here? Up, probably. It's what shareholders demand, anyhow.
Update: Apple ended the day trading at $207.39 per share, $0.34 over what was needed to hit that trillion-dollar market cap.
