Apple is now the world’s first publicly traded company to be valued at $1 trillion

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The peak reached Thursday seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1. Now, Apple is the biggest public company in the world with 4,829,926,000 shares outstanding. So Apple worth more than all but the 15 richest countries in the world, based on 2017 data from the CIA World Factbook. The company has rallied past the trillion level thanks to solid sales of the iPhone 8 and X , particularly in China and Japan , and surging services revenue from the App Store. Apple also tallied a record $53.3 billion in revenue for the last quarter, and made $11.5 billion in profit, a 32% increase in profit over the same quarter last year.

Tim-Cook
Apple CEO Tim Cook

Apple is not the first publicly traded company in the world to surpass the trillion dollar mark though. Oil giant PetroChina  briefly topped a trillion dollar valuation in 2007 when its stock began trading in Shanghai, but shares quickly plunged afterward. Some analysts believe that even though Apple is valued at over $1 trillion, it’s still worth more.  The company is expected to introduce three new iPhones in September, including the possibility for a model considerably larger than the iPhone X and another that’s significantly less expensive.

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