Apple briefly becomes the first $1 trillion US company

Apple Buybacks May Total $21 Billion in Q2

A lower share count means Apple's stock must reach a higher price to reach a $1 trillion market capitalization. Apple's own "Stocks" app, which is based on Yahoo Finance data, also put the company's value at $1.01 trillion.

He took over after the death of founder Steve Jobs, who was identified with launching many of Apple's most iconic products, including the iPhone smartphone and the iPad tablet.

He launched the iPhone in 2007, dropping "Computer" from Apple's name and super-charging the cellphone industry, catching Microsoft Corp (MSFT.O), Intel Corp (INTC.O), Samsung Electronics (005930.KS) and Nokia off guard.

Last year, sales had risen to $229bn and profits to $48.4bn, making it the most profitable public-listed USA company.

Here's a surely non-exhaustive list of our coverage of Apple under both Steve Jobs and Tim Cook-from the end of the 1990s up until now.

Other tech giants have been approaching $1 trillion in market cap, but still lag behind Apple. Amazon had the second-largest U.S. market cap as of Wednesday, at roughly $872.5 billion. A company's market value is calculated by multiplying its current share price by the total number of shares investors hold.

Apple shares rose over three percent on a strong earnings report published earlier this week. The Cupertino tech giant reached the milestone at 11:48 a.m. EST in NY trading Thursday, based on share count data the company disclosed in a recent regulatory filing, reports Bloomberg.

In 2015, Apple joined the Dow Jones Industrial Average, one of capitalism's most exclusive clubs.

The milestone reinforces the massive power Apple has in the tech world - and with its momentum, the company is poised to further shake up Hollywood with an expected video-subscription launch some time later this year.

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