Apple's ride to $1 trillion: The magic number that gets it there

Published: August 2, 2018
SHARES
Email
Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, US, August 1, 2018.
PHOTO: REUTERS

Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, US, August 1, 2018. PHOTO: REUTERS

SAN FRANCISCO: Apple updated its latest share count on Wednesday, putting the magic stock price at $207.04 that would make the iPhone maker the first publicly listed US company valued at $1 trillion.

Apple said in a quarterly filing to the Securities and Exchange Commission, or SEC, that its share count was 4,829,926,000 on July 20, less than the 4,842,917,000 it reported on Tuesday for the end of the June quarter.

Samsung’s mobile woes drag on profit growth

Apple’s stock rose 5.89 per cent to a record-high close of $201.50 on Wednesday following the company’s better-than-expected quarterly results.

That would put Apple’s stock market value at $973 billion, based on its newly disclosed number of shares.

Australia prepares to ban Huawei from 5G project over security fears

With a mountain of overseas cash freed up by last year’s sweeping US corporate tax cuts, Apple bought back a record $43 billion of its own shares in the first six months of 2018, and its report to the SEC suggested it has continued that program in recent weeks.

A lower share count means Apple’s stock must reach a higher price to reach a $1 trillion market capitalisation.

Facebook Conversations

Leave Your Reply Below

Your comments may appear in The Express Tribune paper. For this reason we encourage you to provide your city. The Express Tribune does not bear any responsibility for user comments.

Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments FAQ.

More in Technology