Apple is currently just $50 billion away from becoming the world’s first $1 trillion company. That may sound like a long way to go, but Apple’s share price has increased 32 percent over the past year. It only needs to go up another 6 percent to hit that one trillion mark.
Apple’s recent growth certainly puts paid to the notion that the company would struggle without Steve Jobs, with CEO Tim Cook more than tripling the $300m valuation it had back in 2011. It also came under fire for the pricing of the new iPhone X, which analysts said would stunt sales. In actual fact, iPhone sales grew 14.4 percent to $38 billion in the last quarter, while iPad sales grew 5.8 percent and services such as iCloud, Apple Pay, and Apple Music grew 30.5 percent.
Regardless of the figures, now that they’re so close to the $1 trillion mark, the hype alone should be enough to drive the share price up at least 6 percent. The real question is, will it be able to stay above the hallowed figure once it breaks through? The current top five US companies by market value are below:
Apple – $950 billion
Amazon – $819 billion
Alphabet – $780 billion
Microsoft – $780 billion
Facebook – $545 billion