Ten years ago the world saw the introduction of the iPhone; today, the handheld device may be the catalyst that pushes Apple to become the world’s first $1-trillion corporation.
On Tuesday, Apple shares surged once again, closing at almost $154 per share, and raising the market capitalization to $803-billion U.S.
Investors so far this year have seen a 33 per cent gain in their Apple stock, as the company uses part of their ample cash reserves to buy back $210-billion of the company’s stock. This on the heels of buying $175-billion last year.
Bypassing critics and sour grapes from competitors who claim that Apple has all their apples in one basket so to speak: the iPhone. But the company believes that the 10th-anniversary model due out this fall will be another major win and drive the stock to even greater heights.