World Bulletin / News Desk
After closing at $201.50 Wednesday on the New York Stock Exchange (NYSE), Apple’s stock gained 2.75 percent to $207.05 at 11.49 a.m. (1549GMT) to push it over the $1 trillion threshold.
The historic milestone came two days after the firm announced an increase in its net income and revenue year-over-year that beat expectations.
Revenues rose 17.3 percent to $53.26 billion in the second quarter, from the same period last year, while net income jumped 32.1 percent to $11.52 billion during that period, according to the company’s earnings released Tuesday after the final bell.
While iPhone sales increased 0.6 percent to 41.3 million during that period, iPad sales increased 0.9 percent to 11.5 million; but, Mac sales fell 14 percent to 3.7 million.
Apple also gained $9.55 billion revenue from services such as AppleCare and ApplePay, which grew 31.4 percent. Revenue from other products, such as Apple TV and Apple Watch rose 37 percent to $3.74 billion.
The company said its share count was 4,829,926,000 as of July 20, according to its quarterly filing to the Securities and Exchange Commission.
Close behind Apple to reach the $1 trillion dollar mark is Amazon, with approximately $879 billion market capitalization.
Flag hoisting ceremonies, cultural programs being organized across India as nation celebrates 71st years of Independence
The investment will be primarily led by Samsung Electronics, the world's biggest maker of memory chips, which has faced a string of setbacks in recent years, including a fall in smartphone sales and a corruption scandal that saw its vice-chairman Lee Jae-yong jailed last year.
Sponsors, including Turkish Airlines, help siblings to attend month-long language course after winning NASA award
Neil Armstrong and his crew commemorated for their historic 1969 landing on the moon in Apollo 11 spaceship
More than 20 people have been butchered by crazed mobs in the past two months across India after being accused of child kidnapping and other crimes in viral messages circulated wildly on WhatsApp.
Company's operating system creates more choices, Google’s CEO says
EU Competition Commissioner Margrethe Vestager spoke by telephone with Google chief Sundar Pichai on Tuesday night to tell him about the decision in advance, a source close to the matter told AFP.
Brad Smith made a case for a government initiative to lay out rules for proper use of facial recognition technology, with input from a bipartisan and expert commission.
This year's sector showpiece event, opening Monday, will be buzzing on the back of rapid changes in the industry, as US titan Boeing and European arch rival Airbus vie for superiority in the skies.
MEERkat sets stage for Square Kilometre Array project, to allow astronomers to see the sky in unprecedented detail
Prominent users see follower counts decrease by millions after removal of accounts deemed suspicious or fraudulent
Social media giant fined £500,000 ($663,042) for failing to protect users’ private information
The deal marks the biggest overseas foray yet for Tesla, which is looking to expand into global markets, plans that faced a potential threat from the intensifying China-US trade row.
Floating robot is first AI-powered machine to help astronauts complete tasks aboard ISS