Which U.S. company just became the first to be worth $1 trillion? Is it a Texas oil producer, or telecommunications behemoth AT&T? If you guessed one of the tech giants of FAANG – those initials stand for Facebook, Apple, Amazon, Netflix and Google – you’d be right. After Apple reported strong financial results, stock buyers on Thursday sent the company’s share price above the magic $203.45 mark needed to hit $1 trillion in market value.
Texas Standard Web Editor Shelly Brisbin says premium prices and product diversity are among the keys to Apple’s success.
“A year ago they introduced a $1,000 phone and a lot of people thought that was crazy,” Brisbin says. “The iPhone X was just really expensive, but that’s what’s really moved the needle for them.”
What you’ll hear in this segment:
– How Apple is connected to Texas
– Where Apple’s money comes from
– what other companies could reach $1 trillion in value