Apple is the first $1 trillion company in history

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Apple has just won the race to be the first one trillion dollars publicly traded tech company after it's share price passed $207.04 a share today.

The company's share price jumped earlier this week, following a record June earnings report that was fueled by strong iPhone sales and robust growth in other parts of the company, such as wearables and services like the App Store and Apple Pay.

This meant that Apple shares had to reach $207.04 per share before breaking $1 trillion.

With a market cap of $1 trillion, Apple has a value greater than the gross domestic product of most countries in the world, including Turkey, Switzerland, Saudi Arabia and Taiwan.

He took over after the death of founder Steve Jobs, who was identified with launching many of Apple's most iconic products, including the iPhone smartphone and the iPad tablet.

Launched on a shoestring budget in a Silicon Valley garage more than four decades ago, Apple survived a near-miss with bankruptcy before soaring to a trillion-dollar market value on Thursday.

Last year, sales had risen to $229bn and profits to $48.4bn, making it the most profitable public-listed United States company. Amazon had the second-largest USA market cap as of Wednesday, at roughly $872.5 billion.

Shares surged after Apple reported earnings that topped forecasts and a healthy outlook on Wednesday. Going by industry analysts, Apple may not remain $ 1 trillion company for a longer period of time as the stocks may fluctuate further.

April 1976: Jobs, Wozniak and Ronald Wayne create Apple Computer to sell an eponymous computer hand-built by Wozniak. The so-called FAANG stocks, which include Facebook, Amazon, Apple, Netflix, and Google parent Alphabet, started the week with a collective plunge.