Apple Inc became the first $1 trillion publicly listed USA company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone.
Apple is not the first publicly traded company in the world to surpass the trillion dollar mark though.
The tech company's stock jumped 2.8% to as high as $207.05, bringing its gain to about 9% since Tuesday when it reported June-quarter results above expectations and said it bought back $20 billion of its own shares.
PetroChina, the world's fourth biggest oil company by revenue, was the first company to pass the $1tn mark in 2007.
Apple CEO Steve Jobs held up the new iPhone, in January 2007, during his keynote address at MacWorld Conference & Expo in San Francisco. Although Apple is the first to do so, Google's parent company Alphabet, Microsoft, and Amazon all have genuine chances at reaching a $1 trillion market capitalization.
Buffett is right. Apple reported US$68 billion in profit before taxes and non-operating items in the previous year. Even single-digit shifts in the company's stock price could cause it to grow above, or slip below, this milestone. However, Cook has overseen the development of key new products, like the iPhone X and Apple Watch, new services like Apple Music, and research on potential new categories like self-driving cars and augmented-reality glasses.
Apple isn't safely ahead of everyone else yet, Amazon is now valued at around 900 billion and is closing in on a trillion steadily as well.
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This makes Apple worth more than the economies of countries such as Saudi Arabia, Switzerland and Taiwan.
Steve Jobs and a few other people created Apple 42 years ago in Cupertino, California. That wealth creation exceeds the current market value of every publicly traded US company except Amazon, Microsoft and Google's parent, Alphabet.
Last month, an ex-Apple engineer was charged in California with stealing trade secrets from a hush-hush self-driving vehicle technology project days before he quit to go to a Chinese start-up.
Apple is the first private sector company to reach this level.
But he couldn't help but chuckle over the missed opportunity of being back at Apple today.