Apple Stock: Apple becomes the first company to exceed $ 1,000 billion

Apple Stock

Apple Stock: Apple becomes the first company to exceed $1,000 billion

His debut in a California garage is a long way off. Apple Stock made Wall Street history on Thursday by becoming the first privately held company in the world to break the $1 trillion mark on the stock market. A milestone that culminates decades of products that have upset our history. compared to technology.

Mac, iPod, iPad, iPhone: the group born in 1976 is now part of the daily lives of hundreds of millions of consumers and the apple crunch. Symbol of the brand, has left its mark on popular culture. Apple, however, had a turbulent history, fraught with failures, polemics but above all planetary success that made its richness. And that of its shareholders.

The Apple stock ended Thursday at 207.39 dollars (+ 2.92%), a market capitalization of $ 1,001.7 billion exactly. The equivalent of Indonesia’s Gross Domestic Product and more than double that of Belgium (492 billion). According to 2016 data from the World Bank.

“Of course I’m proud of Apple, but I do not evaluate the world with simplistic human things, like round numbers,” reacted in his usual ironic style Steve Wozniak, who co-founded Apple with Steve Jobs, cited by the Yahoo Finance financial information site.

Most symbolic, however, this course marks a victory for the current boss of Apple Tim Cook, he was greeted with some skepticism when he took the reins in 2011 the Cupertino firm, shortly before Steve Jobs, known for his character more than difficult but considered by many as a visionary, does not succumb to cancer. At the time, the group was worth “only350 billion dollars”.

Seven years later, even if many expect the new innovative product that will succeed the iPhone, even if the group faces many criticisms (taxes, conditions in the factories of its Chinese subcontractors, prices of its devices .. .), even if Samsung sells more smartphones than him, it is Apple which is the most expensive company in the world. And maybe one of those that fascinates the most.

With a solid base of unwavering admirers. But also detractors who see in him the symbol of triumphant capitalism. Apple has always unleashed the passions and regularly makes the headlines. An image cleverly maintained by the group, which communicates little and cultivates the culture of secrecy, to the delight of its fans. Many of whom are still ready to queue for hours to get their hands on the latest iPhone.

His turbulent history also contributed to his fame. After going bankrupt in the 1990s, the group has reinvented itself several times. “Apple is an amazing company,” Bill Gates himself recently summed up, the boss of another historic “tech” behemoth and eternal enemy brother of Apple, Microsoft.

With its products considered by many to be innovative or even revolutionary. Apple has changed the relationship to technology, popularizing new ways to listen to music, surf the internet at any time or even.. Monitor its line thanks to its connected watch. The iPhone and the mobile “apps” that it has popularized have launched a trend in technology, analysts said.

Amazon in ambush

However,

“the 1,000 billion mark is mostly psychological by sending the market a message of growth and importance”

Said Howard Silverblatt, specialist index for S & P Dow Jones Indices.

“That the company is worth 990 billion or 1,000 billion dollars on the stock market, it does not change much for investors, “

Said Karl Haeling, market specialist for the bank LBBW, which sees

” especially proof of the importance that has taken Apple “in the economy US.

Against the tide of many of his colleagues, Bob Enderle finds that Apple is overvalued and even evokes a “big bubble” because “it’s still an iPhone group”, reference to Apple’s dependence on its flagship product. The iPhone represented in the second quarter more than half of its 53.3 billion turnover. Apple has sold more than 90 million since the beginning of the year.

Driven by its own success and the popularity of the stock market for tech. The title of Apple has jumped more than 20% since the beginning of the year. Sitting on huge reserves of cash, the Californian company has also in recent years made many redemptions of shares. Automatically boosting the value of the title. Incursion in the cloud, cloud computing, autonomous cars? Speculation about the future of the group is well underway.

Several companies are in any case in ambush to delight Apple’s first place. Starting with Amazon, the giant of online commerce and the “cloud”, which is worth nearly 895 billion dollars. PetroChina, a state-owned company, briefly passed the $ 1,000 billion mark in 2007. When it went public, but soon fell back.

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