Apple becomes first USA company worth $1 trillion


"China is a challenge, for sure, probably the biggest challenge that Apple faces in that regard because you have other services like WeChat that can potentially get in between your personal relationship with the phone", Jackson said.

The analysts had previously projected $203.45 share price to propel Apple faster towards the trillion dollar milestone. The most bullish, Brian White of Monness, Crespi, Hardt & Co., has a price target of $275 a share.

Apple has officially reached the $1 trillion market capitalization, and while CEO Tim Cook hasn't commented on this historic milestone publicly, he did send an email to employees to thank them. PetroChina, which is also listed on the New York Stock Exchange, is now worth about $205 billion.

Apple's stock market value is greater than the combined capitalisation of Exxon Mobil, Procter & Gamble and AT&T.

When Cook succeeded Steve Jobs as Apple CEO in 2011, he was granted a large welcome package of company stocks then worth $376 million.

USA tech companies have cemented their position in the broader market, now making up the top five most valuable enterprises based on share prices.

Taking a modest victory lap, Tim Cook is praising Apple employees for helping the company's value surpass $1 trillion, this week.

Wall Street thinks Apple could go even higher.

"Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to our values", Cook noted.

Cook's ambivalence to the $1 trillion mark mirrors what he told CNN's Laurie Segall in June.

"Just as Steve always did in moments like this, we should all look forward to Apple's bright future and the great work we'll do together", he added. It reported $2.5 billion in profits in the second quarter in 2018, 1200 percent up from a year-ago period, followed by a highly successful Prime day in July.

One of five U.S. companies since the 1980s to take a turn as Wall Street's largest company by market capitalisation, Apple could lose its lead to the likes of Alphabet Inc or Inc if it does not find a major new product or service as global demand for smartphones loses steam.