Written by – Siyathma at OmeBiz
It has been 117 years since US Steel became the first company to be valued at $1 Billion and since then on the 2nd of August 2018, Apple was announced to be the first trillion dollar company. Their share prices hiked up to $207.05. The share prices went up within one day after Apple reported earnings that were higher than forecasted.
This amazing achievement is due to the increase in sales and profits due to the sale of iPhone 8 and X, particularly in China and Japan. In light of this achievement, let us look at 5 facts about Apple;
- There was a third founding member, Ronald Wayne. Wayne sold his 10% stake in the company for $800 just 12 days after it was founded in April 1976. He received a further $1,500 payout. If he had stuck with the company, his share would now be worth $100bn.
- The creator of the iPod, Tony Fadell, offered the device to Philips and Real Networks first. They both turned it down, claiming they couldn’t really see a future in it.
- An iPhone contains about 0.0012 ounces of gold, 0.012 ounces of silver, and 0.000012 ounces of platinum, worth $1.52, $0.24, and $0.017 respectively.
- Apple has more operating cash than the US Treasury.
- Apple’s stock market value is more than a third the size of the UK economy and larger than the economies of Turkey and Switzerland.
Apple has once again proven to be one of the best brands on the market and it is quite exciting to see where the company is heading.