Even if Apple hasn’t surpassed yet the $1 trillion in market revenue, it’s still the world’s biggest company at least for the moment.
Apple had an impressive week so far
This was an impressive week for the tech giant as its shares jumped to $201.50 leaving it about $27 billion short of the milestone, according to the currently reported shares outstanding.
Apple spent seven years as the largest company on planet Earth, trailing only General Electric Co. at the top.
GE’s two runs during the 1990s and early 2000s totaled 11 years.
On the other hand, Apple may become the first company to hit $1 trillion even if GE spent more years in the top spot.
In the 90s, Microsoft jumped to the top spot during the tech boom
Apple’s reign harks back to that of the technology peer Microsoft Corp. in the ‘90s. Back then Microsoft jumped to the top spot during the tech boom.
In the past two years, Microsoft managed to boost its traded value markedly, but it currently lags Alphabet Inc. and Amazon as well as Apple.
This role as the most valuable company has been quite short-lived for more wearers of the crown.
For instance, Microsoft lost $370 billion in value back in 2000 and only regained its 1999 market cap peak back in October 2017.
Bloomberg reports that “Exxon Mobil Corp. and GE have lagged far behind S&P 500 returns. PetroChina Co. soared after it debuted in a Shanghai share listing in November 2007, briefly giving it a market cap of more than $1 trillion in both China and Hong Kong. By the end of the subsequent year, it was worth less than $260 billion.”
It’s estimated that the California-based company would need to reach $207.0425 a share to become the first American company to surpass $1 trillion.
That’s less than a 3% gain from its most recent closing level, according to Bloomberg.