Tech Brief: Apple Hits $1,000,000,000,000 Value

Major tech stocks at day's close

Apple today officially hit US$ 1 trillion in market value, becoming the first publicly traded U.S. company to do so. The iPhone maker briefly crossed the milestone when its stock hit a share price of US$ 207.05 around 11:48 a.m. ET, merely days after reporting yet another solid quarterly financials that saw the tech giant sell 41.3 million iPhones, 11.55 million iPads, 3.7 million Macs, and a 31% QoQ jump in revenues from Services (iCloud, Apple Music etc.), in addition to sitting on a cash pile worth US$ 243.7 billion. The rise, in part, was majorly fuelled by the release of iPhone in 2007 (with generous help from China, in not only manufacturing it, but also in becoming a huge market for its products), which transformed it from being a small player in personal computing to an ubiquitous communication powerhouse dabbling in hardware and software.