Eyewitness  News
  • Home
Tuesday, May 17, 2022
  • Login
  • Home
  • Diplomacy
  • ECONOMY
  • Agriculture
  • Faith
  • Security
  • Tourism
  • International
No Result
View All Result
  • Home
  • Diplomacy
  • ECONOMY
  • Agriculture
  • Faith
  • Security
  • Tourism
  • International
No Result
View All Result
Eyewitness  News
No Result
View All Result
  • Home
  • Diplomacy
  • ECONOMY
  • Agriculture
  • Faith
  • Security
  • Tourism
  • International
Home Technology

Apple has become the world’s first public company to be worth $1 trillion (£767bn

Admin by Admin
September 17, 2018
in Technology
Reading Time: 2 mins read
0
1.4k
VIEWS
Share on FacebookShare on Twitter

Source BBC

Apple is first public company worth $1 trillion
By Chris Johnston
Business reporter, BBC News

Apple has become the world’s first public company to be worth $1 trillion (£767bn).

The iPhone maker’s market value reached the figure in late morning trading in New York as its shares rose to a new record high above $207.

The stock has been rising since Tuesday when it reported better than expected results for the three months to June.

Apple beat Silicon Valley rivals such as Amazon and Microsoft to become the first to hit the $1 trillion valuation.

Since the iPhone first went on sale in 2007, Apple shares have soared by 1,100% and have jumped almost a third in the past year.

The rise is even more astonishing – 50,000% – since the company first listed in 1980. That dwarfs the 2,000% increase for the S&P 500 over the same period.

Apple traces its origins to the garage of co-founder Steve Jobs in 1976 and was initially best known for its Mac personal computers before its smartphone paved the way for the app economy.

Media captionWhy Apple is worth $1 trillion … and who could challenge it
Mr Jobs, who died in 2011 and was succeeded as chief executive by Tim Cook, oversaw the development of the iPhone, which transformed Apple’s fortunes.

In 2006 the company had sales of less than $20bn and posted profits of almost $2bn.

Last year its sales hit $229bn, with profits of $48.4bn, making it the most profitable listed US company.

PetroChina was briefly worth about $1.1 trillion after floating in Shanghai in 2007, although most of its shares were held by the Chinese government. It is now worth about $220bn.

Image copyrightGETTY IMAGES
Image caption
Apple opened a store in Milan last week
Analysis
By Dave Lee, North America technology reporter

It may have been the vision of Steve Jobs that hurtled Apple towards this milestone, but it was the business acumen of Tim Cook that tipped them over.

While other tech stocks have struggled, Apple has soared ahead. The surge in its shares has been driven by two key factors.

It is selling fewer iPhones, but by releasing a more expensive version last year, it is making more money per device.

Apple has also diversified the sources of its profits. It now makes about $10bn every three months from services such as selling apps, cloud storage and music streaming.

The firm told investors this week that it expected a very strong end to the year helped, naturally, by the release of yet another new iPhone.

Stock markets are volatile, and a small but growing threat from Chinese smartphone makers might eat into Apple’s margins in the coming years.

But no matter what your view of the company and its products, Apple devices have changed the world – and today made financial history as well.

Previous Post

It’s either integrity or no peace, says Oulanyah

Next Post

Improve media performance in Uganda – Kadaga

Related Posts

Russian Firm to Make Vehicle Trackers in Uganda
Technology

Russian Firm to Make Vehicle Trackers in Uganda

March 9, 2022
0

Russian firm to make vehicle trackers in Uganda The Russian firm contracted to install tracking devices in motor vehicles and...

Read more
Parliament  Approves 104 Million  USD Loan For CCTV Network Expansion

Police ICT Directorate Hunts Drivers for Knocking CCTV Cameras

February 27, 2022
Ministry Of ICT Seeks 15BN For Mindset Change

Ministry Of ICT Seeks 15BN For Mindset Change

January 17, 2022
Government  Plans To Scrap 12% Tax On Internet

Government  Plans To Scrap 12% Tax On Internet

January 12, 2022
Software Developers  Decry High Internet Costs

Software Developers Decry High Internet Costs

December 4, 2021
Deputy Speaker Names Select Committee to investigate Dr Musenero

Deputy Speaker Names Select Committee to investigate Dr Musenero

November 11, 2021
Next Post
Improve media performance in Uganda – Kadaga

Improve media performance in Uganda – Kadaga

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
MPs – Reaction to The State of Nation Address

West Nile MPs, Govt Chief Whip Clash Over Electricity in the Region

September 11, 2021
Phaneroo Boss, Sudhir Grilled Over Nakawa Land

Phaneroo Boss, Sudhir Grilled Over Nakawa Land

April 22, 2022
Adjumani East MP  Mamawi-Speaks Out on Charcoal Theft -Claims

Adjumani East MP Mamawi-Speaks Out on Charcoal Theft -Claims

March 16, 2022
Spice Diana Roasted Alive By Fans on Social Media For  Being A Covid -19  Potential Carrier

Spice Diana Roasted Alive By Fans on Social Media For Being A Covid -19 Potential Carrier

March 24, 2020
Budget Advocates Concerned With New Wave Of Corruption In Govt.

Budget Advocates Concerned With New Wave Of Corruption In Govt.

1
Musoke Ibrahim a father to Rahim who is now eight years

Being A Good Father Does Not Mean Money But Love & Care

1
URBRA Cautions On NSSF Mid-Term Access 

URBRA Cautions On NSSF Mid-Term Access 

1

Hello world!

0
Rice Traders Decry Unfair Taxes

Rice Traders Decry Unfair Taxes

May 16, 2022
Gov’t Urged to Create an Ambulance Body 

Gov’t Urged to Create an Ambulance Body 

May 13, 2022
The President Seeks 83bn for Donations

KCCA Speakers Seek Remuneration 

May 12, 2022
Heart institute Grilled Over Undeclared Donor Funding

Heart institute Grilled Over Undeclared Donor Funding

May 11, 2022

Recent News

Rice Traders Decry Unfair Taxes

Rice Traders Decry Unfair Taxes

May 16, 2022
Gov’t Urged to Create an Ambulance Body 

Gov’t Urged to Create an Ambulance Body 

May 13, 2022
The President Seeks 83bn for Donations

KCCA Speakers Seek Remuneration 

May 12, 2022
Heart institute Grilled Over Undeclared Donor Funding

Heart institute Grilled Over Undeclared Donor Funding

May 11, 2022

Eyewitnessug.com is Licensed by Uganda Communications Commission (UCC) Under Dominion Media Limited.

Dominion Media Limited is registered by Uganda Revenue Authority.

For Advertisement Reach out to Marketing Department via.
Email: [email protected]

Contact us through our Postal Address.
P.O.BOX 21157 Kampala-Uganda.

Browse by Category

  • Agiriculture
  • Agriculture
  • Business
  • Development
  • Diplomacy
  • ECONOMY
  • Editor's Pick
  • Education
  • Entertainment & Arts
  • Enviroment
  • Faith
  • Feature News
  • Governance
  • Health
  • International
  • Latest News
  • obituary
  • Opinion
  • Politics
  • Politics
  • Security
  • Social
  • Sports
  • Technology
  • Tourism

Recent News

Rice Traders Decry Unfair Taxes

Rice Traders Decry Unfair Taxes

May 16, 2022
Gov’t Urged to Create an Ambulance Body 

Gov’t Urged to Create an Ambulance Body 

May 13, 2022
  • Home

© 2021 Allrights Reserved EYEWITNESS NEWS UGANDA

No Result
View All Result
  • Home
  • Diplomacy
  • ECONOMY
  • Agriculture
  • Faith
  • Security
  • Tourism
  • International

© 2021 Allrights Reserved EYEWITNESS NEWS UGANDA

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
error: Content is protected !!