Apple is now the world’s only trillion dollar publicly traded company, in terms of market capitalization. The Cupertino tech giant reached the milestone at 11:48 a.m. EST in New York trading Thursday, based on share count data the company disclosed in a recent regulatory filing, reports Bloomberg.
Following this week’s earnings release filed with the SEC on Wednesday, Apple shares (NASDAQ:AAPL) made it official when it briefly traded at $207.05, valuing the company sightly over $1 trillion based on its 4,829,926,000 outstanding shares as of July 20.
With the historic achievement, Apple beats out other large tech companies, including Amazon, Microsoft, and Google parent company Alphabet, in the race to a trillion dollars, however, each are worth more than $800 billion each.
Apple has been ranked as the world’s most valuable company for several years, aside from 2016, and this new milestone is a testament to the strength of the brand with increased revenue and profits, fueled by the popularity of its products like the iPhone and iPad.
Apple will look to gain even more momentum with a wide range of new products expected later this year, including a trio of iPhones, along with reports of Apple Watch Series 4 models, new AirPods, and much more.
For more details, head on over to Bloomberg.
In case you missed it, read our exclusive op-ed from 2015, explaining five reasons why Apple could become the first trillion-dollar American company.