Apple becomes first U.S. company to hit $1 trillion market value

Apple hits $1 trillion in market value.
(Image credit: JOSH EDELSON/AFP via Getty Images)

Apple on Thursday became the first publicly traded U.S. company to be valued at $1 trillion, achieving the milestone when its stock hit $207.05 a share, The Associated Press reports.

Strong third-quarter earnings brought the tech giant to the record valuation, while competitor Amazon's peak has hovered around $900 billion and Google owner Alphabet has passed $800 billion. CNN Money reports that oil company PetroChina once topped the trillion-dollar valuation as well, though it has fallen significantly since it hit that mark in 2007.

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Summer Meza, The Week US

Summer Meza has worked at The Week since 2018, serving as a staff writer, a news writer and currently the deputy editor. As a proud news generalist, she edits everything from political punditry and science news to personal finance advice and film reviews. Summer has previously written for Newsweek and the Seattle Post-Intelligencer, covering national politics, transportation and the cannabis industry.