Apple now has a value of $1 trillion, becoming the first American publicly-held company to do so.
Apple passed the trillion marker on Thursday with an uptick in share price, which briefly cost $207.05 per share. Thanks to steady sales of the iPhone 8 and X, Apple reported better-than-expected earnings for the quarter on Tuesday, which caused the jump in share price.
Apple is the first American company to pass the marker, but not the first in the world. That honor goes to PetroChina, a Chinese oil company that briefly reached $1 trillion in value in 2007.
Thanks to the volatile nature of the stock market, many predict that Apple will waver around $1 trillion in value in the coming days. With the news of being the only American company to ever hit $1 trillion in value—and currently the only company to hold that value, though experts predict retail giant Amazon is not far behind—share price may rise yet again and steady Apple’s gargantuan value.
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