Tim Cook On $1 Trillion Valuation: Keep Your Eye On The Ball

BANGKOK THAILAND- 2018/07/30 An iPhone displays the Apple logo with a background of a market value increasing on the stock exchange behind

The iPhone manufacturer is now the most valuable company which has ever existed on Planet Earth

However, Apple CEO Tim Cook does not think shareholder value is the most important aspect.

"As ever the discussion we have around each quarterly Apple earnings is to what extent it can shift away from relying too heavily on iPhone sales and we saw yet more impressive progress again in the second quarter as services revenues rose sharply". Incidentally, the trigger price for Apple to reach a trillion-dollar valuation has been slowly creeping upwards as the company continues to aggressively buy back shares as part of its capital return program. Amazon is worth almost $900 billion while Google and Microsoft are each now worth more than $800 billion.

With a closing price of $207.39 on Thursday, Apple became the first publicly listed USA company to ever reach $1 trillion in market capitalization.

Apple co-founder Jobs envisioned breakthrough hardware and software architecture where the Apple users never have to leave the company's ecosystem.

Coupled with a lately adjusted outstanding share figure of 4,829,926,000 shares, Apple achieved the trillion dollar milestone earlier than projected, cites CNBC.

Given the volatility of the stock market, however, it's possible that Apple will not remain at the $1 trillion mark in the coming days. However, his net worth is tied to Apple stock in a less conspicuous way.

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Apple became the first company with a US$1 trillion market cap on Thursday, and CEO Tim Cook marked the occasion with a memo to employees for helping reach the milestone.

On Wednesday, Apple's shares closed up nearly 6 percent and this was seen as its best one-day gain in 18 months, after reporting better-than-expected results on Tuesday night.

With Apple's fiscal year ending in less than two months (on September 30), it's safe to predict that Cook will get a decent equity payout, although it's hard to say exactly how much.

Together with Facebook (FB.O), the five largest US companies account for 15 percent of the S&P 500.

Cook emphasized the company's innovation and principles make Apple one of the world's most valuable businesses.

"Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges - and that the people who are insane enough to think they can change the world are the ones who do".

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