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Apple is the first $1 trillion company in history

Apple is the first $1 trillion company in history

Shares of the iPhone maker closed at $207.39 Thursday, lifting the company's market cap to about $1.001 trillion.

We'll be monitoring Apple's stock price closely to see if it's able to really become the first trillion-dollar company.

Started in the garage of co-founder Steve Jobs in 1976, that Apple has pushed its revenue beyond the economic outputs of Portugal, New Zealand and other countries, reports Reuters.

Other companies have come close to the mark, but no public USA company has hit a $1 trillion valuation. "The question now is not [whether we] can we turn around Apple", he said in an early internal meeting. It was Apple's best two-day run since April 2014.

Apple is in the unique situation of controlling the hardware and software in its mobile devices, with content for users required to go through its App Store that takes a percentage of revenue. But there is some interesting data in the report, which notes that the worldwide infrastructure as a service (IaaS) market increased 29.5 percent past year from $18.2 billion to $23.5 billion.

And seems like Apple is not the only one to surpass the $1 Trillion mark. And that the first biggest players in this market-Amazon, Microsoft, Alibaba, and Google-accounted for about 73 percent of it collectively.

One of three founders, Jobs was driven out of Apple in the mid-1980s, only to return a decade later and rescue the computer company from near bankruptcy. The rise of Apple was brought forth by Steve Jobs' innovative products in the iPod, iPhone, and others, revolutionizing the way we view technology today.

In fact, Amazon, Alphabet, and Microsoft could soon be joining Apple over the $1 trillion threshold - currently, they're worth $886 billion, $844 billion, and $825 billion respectively. However, the share price quickly fell back, leaving the company worth just $962 billion at the time of writing. PetroChina, which is also listed on the New York Stock Exchange, is now worth about $205 billion (₱10.8 trillion).

Shares of the company rose 3% Thursday, and are up about 31% over the past year.

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