Published By : 03 Aug 2018 | Published By : QYRESEARCH
Global giant smartphone maker, Apple hits US$1 trillion milestone in the history of US stock market. On Thursday the stock hit an all-time high of US$207.05 per share, driving the company to become the most valuable in the world.
Tim Cook, CEO of Apple Inc., sent full memo to employees, to 120000 Apple employees, which said that it is milestone reached in the history but nothing that the company focuses on. Analysts have already started figuring out Apple next project, in which Tim is so imbibed.
Tim Cook in the memo mentions the name of Steve Job, the founder of Apple believed that human creative would be able to solve biggest challenges. Tim also reminds its employees that they should focus on the future.
Memory cards are an important component in manufacturing from smartphones to self-driving cars. In case of Apple, it relies on semiconductor chips to manufacture its products, this chips are known to be a fiscal burden. In the year 2017, Apple registered the second-largest buyer of memory chips globally. It was worth around US$39 billion.
The stock in backdrop of trading did gain 2.92 percent, after a robust fiscal third quarter earnings report. Analysts expect that Apple would not seat alone at the US$1 trillion mark, as Jeff Bezos led Amazon is expected to reach the threshold soon. Amazon had surpassed the US$900 billion mark in July, though Apple had surpassed that bench mark long back in November. On Thursday, Apple had expanded by 22 percent in 2018.