Finally, Apple made it to $1 trillion in market capitalization. After this week’s earnings release, Apple shares (NASDAQ: AAPL) briefly traded at $207.05, which values the company to over $1 trillion according to the most recent share count of July 20.
And although the smartphone market is pretty saturated, Apple managed to increase its margins and average selling price thanks to the iPhone X releases.
And although iPhone sales grew only by 1%, revenue jumped by 20 percent. With $53.3 billion in revenue, the company grew by 17 percent year-over-year.
While iPad sales are more or less flat Mac sales are down. For the past few years, Apple has been saying that services are going to become an integral part of the company. Right now, Apple’s various services (Apple Music, iCloud, Apple Pay, etc.) represent $9.6 billion in revenue.
For years, Apple has been the biggest company in the world when it comes to market cap. Big tech companies similar to Apple have been performing well for the past year. All three giants Alphabet (Google), Amazon, and Microsoft now all have a shot at crossing the $1 trillion mark like Apple did.
And now, since the tech companies have become so big, it raises a lot of questions. Do they cause antitrust issues? Is there any grantee that they won’t hold too much economic and political powers?
Apple (and its CEO Tim Cook) are considered more powerful than many countries and political leaders. Let’s hope they will be using this power for good.
