FILE -In this Sept. 12, 2017, photo, the new iPhone X is displayed in the showroom after the new product announcement in Cupertino, Calif. Apple has become the world’s first company to be valued at $1 trillion, the financial fruit of tasteful technology that has redefined society since two mavericks named Steve started the company 42 years ago.(AP Photo/Marcio Jose Sanchez)

The Latest: Apple 1st to hit $1 trillion in market value

August 02, 2018 - 11:20 am

SAN FRANCISCO (AP) — The Latest on Apple reaching a market value of $1 trillion (all times local):

9:15 a.m.

Apple has become the world's first publicly traded company to be valued at $1 trillion.

The company reached the milestone Thursday after its shares rose to an all-time high of $207.05. They're up 22 percent so far this year.

Apple has been the leader among a handful of companies that have used new technology to disrupt established industries over the past couple of decades. Amazon is the second most valuable company at $885 billion and Alphabet, the parent of search leader Google, is worth about $860 billion.

Apple's achievement seemed unimaginable in 1997 when the company teetered on the edge of bankruptcy, with its stock trading for less than $1.

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