Apple first to reach US$1t market value
APPLE has become the first US company to be valued at US$1 trillion, leading a rebound in technology stocks that helped Wall Street pare losses and turned the Nasdaq positive.
The milestone marks the financial fruit of stylish technology that has redefined society since two mavericks named Steve started the company 42 years ago.
The peak reached yesterday seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than US$1.
To survive, Apple brought back its once-exiled co-founder, Steve Jobs, as interim CEO and turned to its arch rival Microsoft for a US$150 million cash infusion to help pay its bills.
Jobs eventually introduced such popular products as the iPod and iPhone that have driven Apple’s rise.
Apple hit a record high of US$207.05, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.
Apple’s market value is greater than the combined capitalization of Exxon Mobil, Procter & Gamble and AT&T. It now accounts for 4 percent of the S&P 500.
“There’s a dichotomy on whether the tech run is going to continue,” said Cliff Hodge, director of investments for Cornerstone Wealth in Charlotte, North Carolina.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.