Apple on Thursday became the first private-sector company in history to be worth $1 trillion, after its share price reached an all-time high above $207.
Apple's stock has risen more than 50,000% since it first listed in 1980.
Apple generates billions from hardware sales: It had $29.9 billion in iPhone sales, up 20% year over year, for the June 30 quarter. Analysts polled by Bloomberg have an average price target of $212.79, which would translate to a market cap of $1.05 trillion.
Apple is now the world's only trillion dollar publicly traded company, in terms of market capitalization.
The company founded by Steve Jobs, however, is not the first to achieve this feat.
Jobs eventually introduced popular products such as the iPod and iPhone that subsequently drove Apple's rise.
This makes Apple worth more than the economies of countries such as Saudi Arabia, Switzerland and Taiwan. One of his biggest coups came in 1998 when he lured a soft-spoken Southerner, Tim Cook, away from Compaq Computer at a time when Apple's survival remained in doubt. By past year, its sales had grown more than 11-fold to $US229 billion - the fourth highest in the S&P 500 - and net income had mushroomed at twice that rate to $US48.4 billion, making it the most profitable publicly-listed USA company.
Apple's Earnings Per Share (EPS) grew by 40 percent year over year, and revenue grew by 17 percent year over year.
"The markets are starting to recognise the value of its platform and services more and more, and that's what is being reflected in the increase in market capitalisation", said Brad Neuman, Director of Market Strategy at Alger, a growth equity asset management firm in New York City.
Apple's stock price has been aided by its better-than-expected Q3 2018 earnings report.
April 1976: Jobs, Wozniak and Ronald Wayne create Apple Computer to sell an eponymous computer hand-built by Wozniak.