Apple became the most valuable company in American history Tuesday as its stock soared $5.89 to close at a record $207.39, breaking the magical one trillion dollar market capitalization for the first time.
Apple has seen strong gains following its third-quarter earnings report where it posted quarterly revenue of $53.3 billion up 17% from last year. International sales made up 60% of the company’s total revenue. Net income was $11.5 billion.
The company’s main product — the iPhone — sold 41.3 million units in the quarter while the iPad had 11.5 million units sold. Mac computers, which the company is originally known for, sold only 3.7 million units in the quarter, down 13% from a year ago.
Apple now has over $240 billion in cash and short- and long-term securities.
The company is projecting fourth-quarter revenues from $60-62 billion.
Just what does it mean for Apple to be worth one trillion dollars? Who knows because it’s unlikely there are any companies out there that could possibly buy the company based on its net worth.