Apple first US company to hit $1 trillion-mark

August 3, 2018

New York: Apple on Thursday become America’s first publicly-traded company to hit the $1-trillion milestone when its stock briefly hit the $207.05 per share — the price required to achieve the feat.

The stock, however, fell below $207 later during the mid-day trading.

“Given the volatile nature of the market, however, it’s possible Apple may not stay a $1-trillion company for very long, or it could bounce back and forth over the $1 trillion-mark in the coming days,” The Verge reported.

The Cupertino-based iPhone maker had updated its share count to 4.83 billion (as of July 20) which translated into nearly $973 billion in market cap on Wednesday.

In 2017, China’s PetroChina Co crossed the $1-trillion milestone but since then, the energy company has lost a massive $800 billion in its market cap.

According to media reports, the stock nosedived after China announced key economic policy shifts in the last decade that did not go well with PetroChina.

Apple, maker of the iPhone, iPad and other devices, said its fiscal 2018 third quarter revenue stood at $53.3 billion, up 17 per cent from the same period last year.

The company reportedly aims to introduce at least three new iPhone models soon which may include a considerably larger version of the iPhone X and a less expensive version.

Apple was co-founded four decades ago by Steve Jobs which has completely changed the way people think about mobile communication and related services. (IANS)

Air India acquires first Airbus A350-900 through finance lease

New Delhi: Air India on Friday said that it has acquired India’s first Airbus A350-900 aircraft through a finance lease transaction with HSBC. According to airline officials, the transaction makes...

Canada reports cyber attacks from Indian hackers

Toronto: With Canada-India relations worsening after Prime Minister Justin Trudeau accused New Delhi of involvement in the killing of Sikh separatist leader Hardeep Singh Nijjar in Surrey in June, various...

Guterres links Pakistan floods to ‘climate chaos’, makes appeal for aid

United Nations: UN Secretary-General Antonio Guterres has linked the devastating floods last year in Pakistan to “climate chaos” spurred by greenhouse gas emissions to make his case for aid to...

UP man beaten for wearing skull cap

Meerut (UP): A young man was allegedly thrashed by a group of people here for wearing a skull cap in a college campus where he had gone to deposit his...

First Saudi ambassador to Palestine arrives in West Bank

Ramallah: The first Saudi Ambassador to Palestine, Naif bin Bandar Al-Sudairi, arrived in the West Bank, media reported. Leading an official delegation, Al-Sudairi, the non-resident ambassador to Palestine and non-resident...

Allahabad HC asks UP govt to decide on sex change issue by Oct 18

Prayagraj: The Allahabad High Court has expressed dissatisfaction over the Uttar Pradesh government not framing guidelines as per the 2014 Supreme Court judgment that recognised transgender individuals as the ‘third...

Nepal says it’s against Taiwan’s ‘independence’

Kathmandu: Echoing China's stance, Nepal on Tuesday said that it was against the “independence" of Taiwan. The Nepali side reiterated its firm commitment to the One-China principle, according to the...

Fresh spell of heavy rainfall likely over East India from Sep 29: IMD

New Delhi: The India Meteorological Department on Tuesday said that conditions are becoming favourable for further withdrawal of Southwest Monsoon from some more parts of northwest and adjoining western India...

BRS warns of southern uprise over delimitation on basis of population

Hyderabad: There will be a southern uprise if the representation of South Indians comes down in Parliament due to proposed delimitation on the basis of population, warned Bharat Rashtra Samithi...

INDIA bloc doesn’t want a Muslim face to emerge in national politics: AIUDF

Guwahati: Days after Congress MP Rahul Gandhi dismissed possibilities of forging an alliance with the All India United Democratic Front (AIUDF) in Assam, the party has alleged that the INDIA...

Haryana Police yet to get Monu Manesar’s custody due to security reason

Gurugram: Due to a lack of security by the Rajasthan Police to guard Monu Manesar from Rajasthan to Gurugram, the Haryana Police is yet to get custody of the prime...

Twist in B’luru love jihad case, woman techie enacted drama as boyfriend dumped her, say police

Bengaluru: The Bengaluru love jihad case alleged by a woman techie against her former boyfriend, also a software engineer from Jammu and Kashmir, turned out to be a drama enacted...

Read Previous

Patna: Hindustani Awam Morcha (HAM) workers stage a demonstration during a shutdown called against Muzaffarpur shelter home rapes; in Patna

Read Next

World– China, Asean agree on draft South China Sea code of conduct

Leave a Reply

Your email address will not be published.

WP2Social Auto Publish Powered By : XYZScripts.com