Apple becomes world's first public company worth $1 trillion

Apple is the first $1 trillion company in history

Apple Inc.'s publicly traded worth just put it in never-before-seen territory: the world's first $1 trillion company.

The tech company's stock jumped 2.9 percent to end the day at $207.39, giving it a market capitalization of $1.002 trillion.

The company's fortunes were turbocharged by the launch of personal gadgets such as the iPod in 2001 and the iPhone in 2007. Since the inauguration of the iPhone back in 2007, Apple's shares have risen by 1,100%, jumping a third in the past year alone.

Amazon is now the second-largest publicly-listed US company, with a market capitalization of $889 billion, followed closely by Alphabet and Microsoft, at $856 billion and $830 billion respectively. And good luck arguing that Tim Cook, who has basically been running Apple since 2009, has been a poor steward given that the stock is up some 2,000 percent since then.

The iPhone maker was named as the only publicly listed United States company to be valued at $1,000,000,000,000 just before 5pm this afternoon.

Now Forbes may only analyse companies with a presence in the U.S., but compare Apple's brand value to that of Coca-Cola's - a one-time world leader in terms of brand recognition - this year valued at just $57.3bn. And one company that might greatly exceed Apple's worth if it went public is Aramco, the giant Saudi Arabian energy company that produces 10 percent of the world's oil. Mr Jobs passed away in 2011 and his legacy lives on in every Apple product.

"Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges - and that the people who are insane enough to think they can change the world are the ones who do", Cook wrote.

Stock markets are volatile, and a small but growing threat from Chinese smartphone makers might eat into Apple's margins in the coming years. "Of course, one can argue that the slower gains leave more room for upside for Alphabet stock, but I think it's more a sign that the company simply doesn't have the fuel needed to sprint across the finish line". On Thursday, Amazon's market capitalization was around $874 billion.

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