Some people saw it coming. This was that Apple was on the verge of attaining a level which no company before it has ever managed. Now, it has happened. Apple last night became the first American company to reach a stock market valuation of $1 trillion.
Incredibly, World Bank data shows there are only 16 countries with a gross domestic product, or GDP, equal to or greater than Apple’s current market valuation. The US has a value of $19.4 trillion, China is valued at $12 trillion and Britain comes in at $2.6 trillion.
Steve Jobs started Apple in a California garage in 1976 with Steve Wozniak and Ronald Wayne. Due to business disagreements, Mr Jobs was later driven out of the business in the mid-1980s, despite the success of the early Apple Macintosh computer. However, he returned a decade later and rescued it from near bankruptcy with its share price languishing below $1 and a stock market value of less than $2 billion.
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