On Thursday, Apple became the first USA company to ever reach a $1 trillion worth when its shares climbed past $207.05, even reaching a new all-time high of $208.38.The record-breaking shares came after the firm announced impressive earnings that beat even optimistic forecasts.
The achievement seemed unimaginable in September 1997 when Apple teetered on the edge of bankruptcy and founder Steve Jobs rejoined the company.
Apple has sold more than a billion iPhones.
Technology companies like Apple, Amazon and Alphabet-the parent company of Google-appear to have taken the lead in high market value. State oil company PetroChina briefly broke the $1 trillion barrier in 2007 during its initial public offering, but has since dropped back down.
With over 1 billion Apple devices in daily use, the traction this ecosystem provides ensures that the company will have dependable returns regardless of market conditions. Its shares trade at less than 16 times earnings estimates for the next 12 months, according to Morgan, who said he would be comfortable with a multiple of 18 or 19 for the stock.
Apple wasn't the first company to the $1 trillion market-cap mark.
The $1 trillion milestone is largely symbolic, though impressive. But Apple's success did not come overnight; it's a testament to the company's ability to continuously beat analysts' predictions and turn a profit, quarter after quarter, year after year. China is also a huge market for the company, making up about a fifth of its sales.
The milestone also means that Apple is worth more than just about any country on the planet, there are only 16 that it is worth less than.
But think for a moment about how Apple got so big.
KitGuru Says: Obviously, Apple doesn't have $1 trillion in cash just lying around, but the company is worth that much based on the number of shares available and how much each one costs. Mr Jobs passed away in 2011 and his legacy lives on in every Apple product.
"The markets are starting to recognize the value of its platform and services more and more, and that's what is being reflected in the increase in market capitalization", said Brad Neuman, director of Market Strategy at Alger, a growth equity asset management firm in New York City.