Apple is first public company worth $1 trillion

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His successor and incumbent Apple CEO Tim Cook, meanwhile, is downplaying the valuation.

Apple, the company Steve Jobs and Steve Wozniak founded in 1976 in possibly not a garage, became the most valuable company in the world in 2012, passing Microsoft as iPhone sales pushed the company into the stratosphere.

Apple saw excellent numbers during its fiscal third quarter of the year, revealing strong global sales and demand for the pricey iPhone X, which helped tip revenues to a new record despite a dip in device sales.

If a consumer truly loves using their iPhone to buy music and movies, Apple's hope is that they'll move on to purchase an iPad, a Macbook, an Apple TV or watch. Perhaps there's some truth in that, but the fact is that Apple continues to refine its products in ways that customers like, while largely treating those customers with respect.

With a "market cap" of $884.01 billion, Amazon is Apple's closest rival; Google parent Alphabet trails Bezos' technology and retail giant with a market cap of $854.86 billion.

Israel's GDP was roughly $320 billion in 2016.

Speaking to CNBC, Dan Ives, an analyst with GHB Insights, pointed toward the milestone as a marker for even better things to come.

While Apple is without any doubts ahead of other US-based high-tech companies in terms of market cap, it is not the world's most expensive firm per se.

But many financial insiders view the record as a non-event.

But perhaps more importantly for Apple's future - the iPhone is a gateway to the company's booming services offerings.

Apple has sold more than a billion iPhones.

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A deadly wildfire in Northern California continues to burn - and it doesn't show any signs of slowing down any time soon. The Carr Fire was the result of a "Mechanical Failure of Vehicle" according to the California State incident report.

The first company to hit $100 billion in market capitalization was only able to do so 23 years ago.

One of three founders, Jobs was driven out of Apple in the mid-1980s, only to return a decade later and rescue the computer company from near bankruptcy. So who's going to pay for it?

Holy sh*t, Apple has really done it.

It has moved to keep up with trends in artificial intelligence and voice-commanded smart speakers.

People shop in an Apple store in lower Manhattan on August 2, 2018 in New York City.

I'm no Apple fanboy-I'm an old-school ThinkPad guy and I'll take the nice midrange Android phone with expandable storage, thanks-but there can be little argument now about the direction Cook chose to take.

But the phenomenal success of the iPhone led competitors to mirror certain features like touch-screens featuring rows of colorful icons - and prompted Apple to pursue those competitors in court.

Now, the non-hardware services category is fueling Apple's continued growth.

Mainland China generates about a quarter of Apple's profits. They're just showing off.

Canada's entire gross domestic product (GDP) is valued at about 1.7 trillion dollars right now.