NEW YORK (CelebrityAccess) — Apple Inc. made history on Thursday when they became the first U.S.-based company to push past the $1 trillion threshold for its market value.
The consumer electronics and entertainment giant pushed into the 13 digit territory shortly before 12.p.m. on Thursday, when its shares hit the price of $207.05 according to a report by Bloomberg.
While Apple is the first American company to achieve that valuation, they aren’t the first. China’s national oil concern PetroChina passed the trillion dollar mark briefly in 2007 before the plummeting price of oil and the financial crisis helped bring them back to earth.
Other tech companies, including Amazon, Microsoft and Alphabet (Google) are not far behind Apple and each worth more than $800 billion.
Apple, under Steve Jobs, helped to revolutionize the way that consumers experience music, helping to usher in the era of Mp3s with their iPod portable music players and later, the groundbreaking iPhone.
However, Apple came late to digital distribution via streaming, hindered by their own investment in digital downloads.