Apple Set To Become First Trillion-Dollar Company

Reuters reports:

Apple Chief Executive Tim Cook quashed concerns recently about muted demand for the iPhone X, saying pre-orders for the 10th anniversary smartphone were “off the charts,” but it might be the company’s market capitalization that needs a bigger graph.

Positive reviews for the new device and expectations that many users are on the verge of upgrading from older iPhones have sent Apple’s stock to record highs, pushing it closer to becoming the first publicly listed company with a stock market value above $1 trillion.

Since the first iPhone in January 2007, Apple’s stock has surged almost 1,300 percent, compared to the S&P 500’s 83-percent increase. Including dividends, Apple’s total return has been about 1,400 percent.