Saturday, 4 July 2020

Apple becomes first company to hit $1 trillion milestone

LONDON: Apple Inc became the first $1 trillion publicly listed US company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.

The tech company’s stock jumped 2.8 per cent to as high as $207.05, bringing its gain to about 9 percent since Tuesday when it reported June-quarter results above expectations and said it bought back $20 billion of its own shares.

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