"Siri, would you tell me which company hit the $1 trillion mark?”…
It was a question that kept everyone guessing, which company would be the first to hit the $1 trillion market cap? The verdict was finally out where Apple Inc became the first $1 trillion publicly listed U.S. company on 02 August 2018, crowning a decade-long rise fueled by its widespread iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.


The company’s stock jumped 2.8% to as high as $207.05, bringing its gain to about 9% since 31st July when it reported quarter results above expectations and said it bought back $20 billion of its own shares.
Started in the garage of co-founder Steve Jobs in 1976, Apple has pushed its revenue beyond the economic outputs of various countries.
“I think it just speaks to just how powerful the Apple ecosystem has become over the last few decades”- analyst Dan Ives told after the historic market move. This incident is viewed as a new stage of growth and profitability.
The catch-all category- which includes the App Store, Apple Care, Apple Pay, iTunes and cloud services- posted record revenue of $9.55 billion for the June quarter. The vision that founder Steve Jobs and present CEO Tim Cook have had, has made sure that Apple isn’t just a hardware company.
Amazon had also been approaching the threshold, surpassing $900 billion in market value in July. Many on Wall Street noted earlier this week that Apple was firmly on the path to $1 trillion.

Initially, Apple had evolved from selling Mac personal computers to becoming an architect of the mobile revolution with a cult like following.
Jobs was succeeded as chief by Tim Cook who has doubled the company’s profits but struggled to develop a new product to replicate the society-altering success of the iPhone, which has seen sales taper off in recent years.



In fact, when Jobs lost his battle with cancer, many believed that the company would lose its charisma. Although Cook was a brilliant strategist which resulted in the turn-around of the company’s supply chain, there were doubts on whether he could be able to inspire a massive fanatic following. Nonetheless, its 2018 and Apple continues to roar, not only with its iconic product portfolio but also with its next-gen business interests such as Apple Pay, and AI-powered services including Siri and driver-less cars.


However, there are still apprehensions among some groups about the company’s success. One of five U.S. companies since the 1980s to take a turn as Wall Street’s largest company by market capitalization, Apple could lose its lead to the likes of Amazon.com Inc, if it does not find a major new product or service as demand for smartphones loses steam. More brands plan to invest on Amazon Alexa and Google Assistant than in Siri. In order to continue this trail of success, experts believe Apple has to enter new adjacent markets and territories.  It has to keep up with its innovative features to keep tabs on the stiff competition from the likes of Facebook, Google, Microsoft and especially Amazon, which was also in the race to hit its $1 trillion mark.

As an expert puts it: “As we enter a new era in tech, wherein data and artificial intelligence algorithms start taking center stage, it will be interesting to see how Apple manages to maintain its leadership position leveraging its current products and user base.”