Yesterday, Apple made not only IT support history, but American history. So you think a $100 billion bushiness is good? It may be, but there’s a new standard in town now. Apple is worth a trillion dollars.
Apple is the first company in American history to have capital value of over one trillion dollars. We can also thank the latest quarter earnings for this. Furthermore, Apple passed stockbrokers’ expectations of sales. Then they have high hopes for the months ahead, you know, back to school season, then holiday shopping season. Yesterday, all this good new pushed stocks to over $207 a share. An noon yesterday, Eastern time, Apple officially became a trillion dollar company.
But it’s not the first global company to do this. PetroChina, a Chinese big oil firm, crossed the trillion dollar mark back in 2007. However, not only did it not stay there, but PetroChina’s worth soon nosedived. By the end of 2008, at the Great Recession’s height, their net worth fell to $260 billion. But that is PetroChina. This is Apple. I think trillion dollar mark isn’t based on previous sales, but on speculation. Rumors say 3 new iPhones are coming out in the near future. Apple lovers also look forward to a new Apple watch and iPad Pro that might be coming out. Look at the nouns and verbs…rumors, look forward, might be.
What I’m saying is this feat isn’t really based on anything tangible. That is a dangerous position to put yourself in, especially if you’re a mega company like Apple. So if I were an Apple executive or stockholder, or even a loyal Apple consumer, I wouldn’t be popping any champagne if I were you. I’m already seeing Apple stocks are down slightly, not even 1%. But more to the point, Apple is worth a trillion dollars. Mostly based on hopes and dreams. It could come true? But what if they don’t? Also, Amazon could make the trillion dollar worth mark before too long. Is this an IT support watershed moment? Or is this a disappointment just waiting to happen?