Apple surges to $1 trillion in market value

Apple Watch Available at Retail Locations

Apple's achievement becomes more valuable in the light of the fact that many arch rivals and longtime competitors, including Microsoft and Google, are yet to achieve the milestone. But until the IPO is completed, Saudi Aramco's actual value remains murky.

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.

Jobs' vision, showmanship and sense of style propelled Apple's comeback.

But the recovery might not have happened if Jobs hadn't evolved into a more mature leader after his exit from the company in 1985.

While other tech stocks have struggled, Apple has soared ahead.

Apple Chief Executive Tim Cook has a trillion reasons to smile.

Cook signed off his touching memo with a unifying message to employees: "Just as Steve always did in moments like this, we should all look forward to Apple's bright future and the great work we'll do together".

White House says Trump's resolve is firm on China trade
The ministry said timing of the implementation of the new tariffs on U.S. goods would depend on the actions of the US. It was not clear from the China commerce ministry announcement which US goods would be levied with the new tariffs.

Although Apple has yet to produce another mass-market sensation since that changing of the guard, Cook has leveraged the legacy that Jobs left behind to stunning heights. The whole piece may seem pretty cringey in retrospect given Apple's subsequent revival, everything from the "The fall of an American icon" headline to predictions of irrelevance - "Apple has lost something it's unlikely to win back: the technology leadership that made the Macintosh so different from other computers". All the enthusiasm around the $1 trillion market capitalisation, both those things have just exhausted the current trading in Apple.

Cook hasn't escaped criticism, however.

That has raised concerns that Apple has become far too dependent on the iPhone, especially since iPad sales tapered off several years ago. He's right. It's extremely hard to avoid comparing Apple's good fortunes with the recent slump at Facebook, which can be crudely summed up as the result of the social network's user-exploiting ways catching up with it.

Since 2007, 18 different iPhone have been launched and more than 1.2bn of the devices have been sold.

The company also boosted its revenue from services, including Apple Music and the app store.

One of five US companies since the 1980s to take a turn as Wall Street's largest company by market capitalization, Apple could lose its lead to the likes of Alphabet Inc GOOGL.O or Amazon.com Inc AMZN.O if it does not find a major new product or service as global demand for smartphones loses steam.

"In Kuwait, the iPhone dominates; everywhere you go you'll find an Apple device", said self-described Apple enthusiast Kuwaiti Nawaf Al-Suwaiyed.

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