Apple (AAPL): $1 Trillion Is Just the Beginning

Apple is the first $1 trillion company in history

Apple hits the $1T milestone

The race to a trillion dollar market race was viewed closely on Wall Street as insiders believed Amazon would be the first to reach the mark.

Apple is officially the first American company to hit a $1 trillion valuation. Part of Apple's success is due to its increased profit margins thanks to the higher average selling price of its newest smartphone, the iPhone X.

Apple isn't safely ahead of everyone else yet, Amazon is now valued at around 900 billion and is closing in on a trillion steadily as well.

Apple is the world's most popular tech brand out there, no-brainer.

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Wall Street loved it. Apple climbed almost 9 percent since the earnings report.

Daniel Morgan, portfolio manager at Synovus Trust in Atlanta, said Apple's lukewarm Friday was a temporary pause for the stock rather than a sign it could lose ground.

Cook's comments come after a stellar fiscal third quarter - the best in the company's history - in which Apple posted a revenue of $53.3 billion and net income of $11.5 billion. Apple is now up more than 20% this year.

On Tuesday, the company said Apple Services, which includes things like the App Store and Apple Music, saw a 31% jump in revenue.

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Some anti-tech activists will nearly surely use the historic achievement as further evidence that the tech titans need to be shackled with regulation or broken up into more manageable pieces.

While other tech stocks have struggled, Apple has soared ahead.

Trip Miller, managing partner at Gullane Capital LLC in Memphis, said Apple "should trade much higher".

But Cook has gradually won accolades from investors by pumping out a series of solid financial results and spreading Apple's products to China and other foreign markets. Apple has been the world's most valuable public company since 2012, when it was worth about half as much. 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.

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The company's stock climbed on Thursday in the wake of a successful second financial quarter, leaving it a few billion dollars off the $1tr market cap.

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