Apple already has so much to boast about that a week ago it was hard to think of something else that might give it even more reason to brag. Yet the multi-billion dollar company has done just that: On Tuesday its stock price reached a new record level of $153.99 – giving the technology giant a stock market valuation of no less than $802.88 billion.
Why is this so significant? The answer is quite simple – it’s the first American company in history with a stock market value of more than $800 billion. And suddenly a trillion dollars doesn’t seem that far away anymore.
A company’s stock market value, also called its capitalization rate, is derived by simply multiplying the number of shares it has issued by its stock price. And during recent months Apple’s share price has surged in anticipation of the brand new iPhone which will be released in September 2017.
Below are a couple of interesting facts about the company’s stock:
It took Apple slightly over two years to grow its stock value from $700 billion in 2015 to more than $800 billion this year. The company’s share price would need to grow another 12.1% to $172.62 to reach the $900 billion level – and when it hits $191.80 Apple’s total market value will break through the $1 trillion level.