Apple Inc. (NASDAQ: AAPL) is on the brink of becoming the first American company to have a net worth of $1 trillion. Apple is presently worth about $945 billion and shares are up more than 13% this year, which is better than the overall market. For Apple to hit $1 trillion in market valuation, the stock would have to go up another 6% to $202.30 per share. Some people believe that Apple needs a new product to keep sales and profit growing. However, Apple has been reaching its way to a net worth of $1 trillion due to the concrete sales of the Iphone 8 and X, and rising services revenue from the App Store. Apple’s sales have increased 16% in the first three months of 2018, which is considered good for a company of its great size. Apple has been using more than $267 billion in cash to increase its dividend and stock buyback program, to reward investors, including Warren Buffet. Buffet’s company, Berkshire Hathaway, bought about 75 million shares of Apple in the first quarter, making it the company’s stock holding.
There are other companies other than Apple that are close to the $1 trillion net worth. Amazon is at an all-time high right now and is now worth more than $800 billion, which has lifted the net worth of Amazon CEO Jeff Bezos to almost $140 billion. Google owner Alphabet and Microsoft are also near an all-time high, each worth more than $775 billion. Facebook, despite the recent Cambridge Analytica incident, is not that far from its all-time high, having a market value of almost $560 billion. Apple, Amazon, Google, Microsoft, and Facebook collectively have a net worth of about $3.9 trillion.
However, Apple is not the first publicly traded company in the world to surpass $1 trillion. Oil giant PetroChina, shortly surpassed a trillion-dollar valuation in 2007 when its stock began in Shanghai. However, shares quickly went down afterwards. It is worth about $240 billion in the New York Stock exchange right now.