Apple Stock Buyback Tops $20B In Second Quarter

It shows us how Apple has grown over the last two decades, as well as how it became one of the most powerful companies in the world.

Apple on Thursday became the first private-sector company in history to be worth $1 trillion, after its share price reached an all-time high above $207. It could cement customer loyalty to these brands, enhancing a perception of quality.

Shares of Apple briefly hit $207.05 in late-morning trading, before retreating somewhat.

Apple sold 43.1m iPhones in the June quarter, as customers flocked to its more expensive models like the iPhone X. It is now worth about $200 billion, according to Thomson Reuters data.

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Mega-cap tech giants like Amazon, Microsoft, and Google's parent, Alphabet, were also in the race to $1 trillion, but none could beat Apple in the end.

Apple is not the first publicly traded company in the world to surpass the trillion dollar mark though. "It's one of those things that does not mean anything by itself.it's more a testimony of the importance of Apple on the market". After launching the iPhone - arguably its most famous product - in 2007, Apple now churns out over 40 million of the devices every quarter, helping it rake in $254.63 billion in revenue past year.

Canada's entire gross domestic product (GDP) is valued at about 1.7 trillion dollars right now. Today, most analysts think Apple has a solution: Selling existing iPhone users services like Apple Pay and Apple Music and hardware accessories like the AirPods and Apple Watch.

And Apple faces strong competition from other technology companies. They probably wouldn't have been possible without Apple's partnerships with manufacturers in China, which have allowed the company to make billions of devices while keeping tight control over its products and making them affordable for consumers.