Apple becomes world’s first TRILLION dollar company: iPhone maker hits major landmark

The iPhone and iPad maker reached the financial landmark after its shares hit $207.05 the day after the tech giant posted strong financial results.

reached the $1tn (£767billion) mark after having their best June quarter ever.

The Cupertino firm’s stock has been rising since reporting their latest financial results on Tuesday.

Speaking about their most recent quarterly results, Apple CEO Tim Cook said: “We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth.

“Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”

While Luca Maestri, Apple’s CFO, added: “Our strong business performance drove revenue growth in each of our geographic segments, net income of $11.5 billion, and operating cash flow of $14.5 billion.

“We returned almost $25 billion to investors through our capital return programme during the quarter, including $20 billion in share repurchases.”

Apple first became listed on the stock market in 1980, and since then has seen its stock rise by more than 50,000 per cent.

That is far more than the 2,000 per cent increase for the S&P 500 over the same period.

And since the iPhone first went on sale in 2007 Apple has seen its shares surge in value by 1,100 per cent.

When CEO Mr Cook took over from Apple’s influential co-founder Steve Jobs, who passed away in 2011, Apple was valued at $624bn.

The news comes as Apple are gearing up for the release of their next line of iPhones.

Apple are widely rumoured to be launching three different iPhones at their yearly September conference.

Leakers have tipped that Apple will be launching a new 5.8inch iPhone X, a 6.5inch iPhone X Plus as well a 6.1inch entry-level iPhone X.

The latter is rumoured to have a cheaper price point than the other upcoming phones thanks to it sporting an LCD screen instead of an OLED display.