Apple is first public company worth $1 trillion

Apple Buybacks May Total $21 Billion in Q2

Apple becomes world's first trillion dollar company

Apple sold 41.3 million iPhones last quarter, and reported an average selling price of $724.

Its shares have increased more than 2.5 per cent so far this afternoon, bolstered by positive quarterly results for the Cupertino company in which it smashed analyst expectations. It now accounts for 4 percent of the S&P 500.

Digging the information further, Apple technically is not the first company to hit $ 1 trillion mark in the U.S. stock market. He has pushed suppliers to improve labor practices and battled with US authorities over user-privacy tools like encryption.

As mighty as Apple may seem now, economic and cultural forces can quickly shift the corporate pecking order.

"It is an unbelievable company", the legendary USA investor and Apple stockholder said in May as he marvelled that Apple earns nearly twice as much as the second-most profitable company in the US. Microsoft, from which Apple snatched the title of most valuable company in 2012, is at $827.53 billion today. Saudi officials have said the IPO would value Saudi Aramco, as the company is often called, at about $2 trillion.

But the recovery might not have happened if Jobs hadn't evolved into a more mature leader after his exit from the company in 1985.

In the more than four decades since Steve Jobs founded the company in a California garage, Apple has become almost synonymous with personal computing and mobile devices.

Despite the day's reprieve for Wall Street, concerns remained over the U.S.

As with other landmarks - such as the Dow crossing 25,000 points for the first time - the Apple record is significant because of its resonance beyond the financial universe.

Apple is the first private sector company to reach this level.

Mr Jobs died in 2011 and was succeeded as chief executive by Tim Cook. Kawasaki credits Cook for executing Jobs' vision.

Cook hasn't escaped criticism, however. In 2011, Apple was the only tech company in the top five.

"It didn't just change Apple, it changed the whole computer industry", Jobs said of the Macintosh in 2007.

The iPhone maker was named as the only publicly listed USA company to be valued at $1,000,000,000,000 just before 5pm this afternoon. The services division also had a stellar quarter, as Apple Music reportedly took over Spotify to be the number-one streaming service in the world.

Latest News