Apple becomes 1st private company worth $1 trillion
Apple Inc. has become the first private company to surpass $1 trillion in stock market value Thursday following its latest surge after reporting strong quarterly earnings.
Shares of Apple briefly hit $207.05 in late-morning trading, before retreating somewhat. The gains came after the iPhone maker reported strong earnings late Tuesday that prompted a two-day rally in the share price.
The company’s stock was at $205.98, up 2.2 percent near 1555 GMT. Apple said it currently has 4.83 billion shares outstanding.
Source: AFP
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