After becoming the first $1 trillion publicly-listed U.S. company on Thursday, Apple last traded up 0.1 percent at $207.57 (roughly Rs. 14,200) after falling as low as $205.48 (roughly Rs. 14,000) and as high as $208.74 (roughly Rs. 14,300), as it oscillated around the $207.0425 price that marked the record market cap.
Whether or not Apple can retain this market cap - or close to it - in the long run remains to be seen. Stock buybacks reduce the number of shares a company has on the open market, driving up the price of the remaining shares. It was the time when the co-founder of the company, who was literally shown the door by the board mere few years before, made a decision to come back to turned the table by showing an exponential degree of commitment and confidence.
A few days ago, it was announced that Apple was nearing the trillion dollar mark in terms of their market value. The company estimated a healthy revenue stream of between $60 billion and $62 billion with low operating costs of just $7.95 billion to $8.05 billion. Apple also forecast a strong fourth quarter, posting a revenue guidance of between $60 and $62 billion.
The other company with some claim to be the first valued at $1 trillion is China's state-owned oil company PetroChina.
Apple's shares have been gradually climbing upwards.
Apple still looks relatively cheap even with a trillion dollar valuation.
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Even with its $1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive. And good luck arguing that Tim Cook, who has basically been running Apple since 2009, has been a poor steward given that the stock is up some 2,000 percent since then.
I'm no Apple fanboy-I'm an old-school ThinkPad guy and I'll take the nice midrange Android phone with expandable storage, thanks-but there can be little argument now about the direction Cook chose to take.
This streamlining is putting millions of dollars in the pockets of small companies, which now have a vital role in producing some the world's most popular products.
Apple shares rose 2.7% today and they're up 22% so far this year.
As a supplier of the cutting-edge screens used on the iPhoneX, this supplier is on the front lines of the products that will drive Apple's growth - and profits.