Apple makes history by becoming first company to reach $1 trillion market value

[accadacca]

Haters gonna hate. These number don’t lie...



Apple, which already held the crown as the most-valuable company on earth, made Wall Street history Thursday when it became the first publicly traded corporation to reach a market value of $1 trillion.

Apple, whose stock*is owned by investors ranging from billionaire Warren Buffett to mutual fund giant*Vanguard to millions of working Americans through funds owned in*their 401(k)s, passed the milestone after reporting another quarter of stellar profits after the market close Tuesday, highlighted by a jump in revenue to $53.3 billion and the sale of 41.3 million iPhones.

The iPhone maker broke the $1 trillion barrier when its stock briefly hit the magic share price of $207.05 around noon ET, according to Nanex, which supplies market data to the financial industry.

“Apple has gone where no company has gone before,” says Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

The individual company milestone follows an extraordinary stretch of tech innovation and arrives as the bull market for stocks, now more than nine years old, looks to overtake the 1990s bull as the longest in history later this month.

Heading into Thursday's trading session, Apple shares were up 19.1 percent so far in 2018, more than double the return of the broad S&P 500, which has gained 5.2 percent.

Apple’s rise has been driven largely by its wildly successful iPhone, which has been instrumental in shaping the mobile world we live in and is now a staple of daily life for tens of millions of Americans who use it to make calls, send texts, snap pictures, check Facebook and stay on top of the news.

Apple’s good fortune is also good news for Main Street investors. With a nearly 4 percent weighting, the stock is the biggest holding in the Standard & Poor’s 500 stock index, an investment that is owned by most individual investors through index funds and exchange traded funds that track it and in 401(k) plans.

“Apple’s gain boosts about every 401(k) since it is a big holding in just about every large-company mutual fund,” says Paul Hickey, co-founder of Bespoke Investment Group, a New York-based market research firm.

Given that the S&P 500 is weighted by market value, Apple, as the most valuable company in the index, has the biggest impact on the index's price moves.

It’s often said that when Apple goes, so goes the market.

"Apple truly is the apple of the market's eye," says Erik Davidson, chief investment officer at Wells Fargo Private Bank in Chicago.

Apple won the race to $1 trillion, edging out rivals, such as Amazon (whose market cap was $877 billion as of Tuesday's close, according to S&P Dow Jones Indices), Google parent Alphabet ($858 billion) and Microsoft ($817 billion), the other main contenders that were racing the iPhone and iPad maker to reach the milestone.

“This feat,” says Hickey, “is a reflection of just how strong a company Apple is.”

Wall Street pros say Apple's ability to grow so large has been driven by a confluence of factors, ranging from its global reach, the explosion in global smartphone demand, and the rise and proliferation of the Internet.

Apple also enjoyed a "first mover advantage," as it got ahead of the competition in the mobile phone space back in 2007 when it launched the first version of its iPhone.

"Apple has global market appeal and brand power," says Joe Quinlan, chief market strategist at U.S. Trust in New York. "With the iPhone, they've created market demand virtually out of thin air."

https://www.usatoday.com/story/money...lue/877867002/

[rockgremlin]

ACCADACCA:

[stefan]

an oldie (2007) but befitting


accadacca:

[rockgremlin]

^^^ LOL. I've never seen anybody so rabidly loyal to a product.

I wonder if his wife is aware of his undying love for Steve Jobs...

[accadacca]

Lol

I just love their products because they are so simple, smart, designed well and they just work.

There are many other brands that I love. You would see this from my Instagram feeds. You don't really see any pictures of Apple products except for when I get a new one every few years. Mountain Bikes, Motorcycles, etc litter my pages.

I'm a much bigger fan of KTM motorcycles then Apple. I've had 3 and my current is a Husaberg, which is a KTM brand and has now been rebranded to Husqvarna when KTM bought them. I also like Honda because I grew up riding them and they make solid machines.

I'm also a snob for BMW motorcycles and I've had 3 of them including my current ride. As I mentioned, I like Honda as well and would buy a Honda Africa Twin if I had some extra scratch laying around.

Toyota is my favorite for trucks and SUVs. Tundra, Tacoma, 4-Runner, Land Cruiser. All hard to beat. I like Ford Trucks though as well and others too. Plus other SUV's and Cars.

[Iceaxe]

I just love their products because they are so overpriced, simple, smart, designed well and they just work.

FTFY

[accadacca]

The same could be said for BMW, KTM and Toyota.

[twotimer]

I like Apple stuff, too. But I'm staying the hell out of this!

[Iceaxe]

The same could be said for BMW, KTM and Toyota.

Toyota... seriously?!?

Toyota is one of the best dollar values out there. Toyota's are bulletproof proof, but their designs and technology are always 5 to 10 years behind the curve and they are seldom if ever what you could call cutting edge.

You're going to have to try again on that one Fanboi.

And I really don't have anything against Apple as they make awesome products. But I don't like being restricted to only playing in their sandbox. It's like being forced to marry the first girl that gives you a blow job. It might be an awesome BJ, but I'd still like to keep my options open. YMMV

[accadacca]

The conversation is about overpriced products and Toyota falls perfectly into that category. Why do consumers choose one product over another?

Can you explain why you bought a Toyota Tacoma when it costs so much more then the Chevy Colorado or the same price as a Ford F-150? You could have had a full size truck for the same price! An American made real mans truck. Did you buy some skinny jeans too?

[twotimer]

They buy those little trucks because they don't know how to park a full sized one.

I drove in a friend's brand new Tacoma the other day. I swear it "felt" just like the new 4banger, regular cab I bought back in '89. The engines have gotten better, that's for sure...but it's still a little truck.

I think they're overpriced as well.

[Iceaxe]

The conversation is about overpriced products and Toyota falls perfectly into that category. Why do consumers choose one product over another?

Can you explain why you bought a Toyota Tacoma when it costs so much more then the Chevy Colorado or the same price as a Ford F-150? You could have had a full size truck for the same price! An American made real mans truck. Did you buy some skinny jeans too?

You and I must by our trucks at different places because that has not been my experience.

I bought two new trucks last year. The Tacoma and a Chevy 1500, both have about every option available. The Tacoma was 57% the cost of the Chevy.

YMMV

[BruteForce]

Folks continue to buy this crap because the marketing is so good and the products are nice looking (sexy, as it were), not because the product is that good. Its now a fact since Steve Job's passing that Apple has no real roadmap for innovation. MacBook platform may as well be dead, iPhones are struggling to keep up with Samsung, iPads are irrelevant.

Now, I'm a Ram (Cummins) guy, but my wife is a loyal Toyota 4Runner owner (since early 90's); those trucks are bullet proof with regular maintenance, but they're gutless and have no real TECH (just like the wife appreciates). I personally can't stand driving the wife's 4Runner, because its too small for my "full figured frame", and unless I open the sunroof, its totally cramped. Give me my Ram 3500 Dually at 700HP anyday of the week! :) <and for those haters, I also own an Audi S4, but hate driving it because its so tiny and low to the ground. Once I'm inside, its a rocket, but I sure hate getting in and out of that car!>

[accadacca]

Compare an equally equipped Tacoma to one of these other trucks and it is head and shoulders more expensive. Again, you could get a full-sized F-150 for the same price.

Why are Taco’s so overpriced and why do these fanboi’s fall for the hype?

[twotimer]

I read somewhere that you can jack a TACO up over 40 grand. Can you image that? Spending that much money on that little thing.

[Iceaxe]

I read somewhere that you can jack a TACO up over 40 grand. Can you image that? Spending that much money on that little thing.

My Taco stickered for $42k, and my Chevy Silverado stickered for $74k.

And my question to Acca is who the f*ck buys a base model with zero options. You could order one from Chev, but it would be nearly impossible to find a zero option Taco. Apples to apples they all cost about the same. I shopped them all 9 months ago when I bought my new trucks.

Now if you want to know where the Taco really shines its resale. I paid $30k for my 2012 when new, drove it for 6 years, and sold it for $26k.

[accadacca]

For that price did the Chevy have a push button start on the dash?

[Iceaxe]

For that price did the Chevy have a push button start on the dash?

The Chevy will probably wipe your ass if you can find the correct button to push. Top of the line GM products are always cutting edge technology.

[accadacca]

The Chevy’s lacked a few very basic things when I looked at them last year.

They had two manual adjustments for the steering wheel (not electric), no blind spot detection, no rear seat vents (what?) the diesel def tank hangs down below the running boards, no push button start. This is on the 17 and earlier Denali trucks.