Apple becomes first tech company to be valued at $1 trillion

By Gadjo Cardenas Sevilla

Today is a momentous day for Apple as it becomes the first publicly traded company to be valued at $ 1 Trillion dollars. Apple Inc., was founded 42 years ago by Steve Jobs and Steve Wozniak and saw a string of successes that made it a lynchpin of Silicon Valley.

Apple also suffered various years of gross mismanagement and was 90 days away from bankruptcy at one point before the return of Steve Jobs and the resurgence of Apple as a brand in the late 1990's up to the launch of the iPod, the iPhone and various other groundbreaking technologies.

The two Steves: Steve Wozniak and Steve Jobs during Apple's early days when they hand-soldered motherboards in their garage

Apple hit the $1 trillion mark when its shares reached $207.04 around midday in New York today. Apple shares rose to an all-time high of $207.26 before falling back slightly. The shares are up around 22 per cent so far this year. By comparison, Apple shares in 1997 were trading for less than $1.

What paved the path for Apple to reach this point? A series of captivating and game changing products brought to life by true visionary thinking that we will likely never see again.

With Steve Jobs serving equal parts taste maker, innovator and taskmaster incredible products like the iPod and the iPhone were brought to market and became cultural icons and agents of change. With an adeptness for creating innovative software and with Jony Ive running the most prestigious industrial design lab in the industry, Apple had an amazing run at launching delightful premium computers and accessories that, while expensive, customers were happy to pay for.

Steve Jobs may have been the visionary and soul of Apple, but it was under Tim Cook's watch that the company generated $600 billion in revenue

Current CEO Tim Cook's unrivalled acumen in mastering supply chains and inventory has made Apple an economic juggernaut. Under Cook's leadership, which started in 2011, Apple has generated $600 billion in revenue, it has expanded globally and still manages to enforce green initiatives in recycling and net-zero energy.

Apple has transitioned from being Apple Computers, a maker of Macs, to Apple Inc., a multi-faceted global corporation that creates iPhones, iPads, Macs, wearables, smart speakers, streaming set-top boxes and, more importanly, it is the progenitor of various ecosystem plays that generate customer lock-ins for sustained and constant revenue streams.

Apple's services have been key drivers for the company. This includes iTunes, App Store, Apple Pay, licensing for Apple CarPlay as well as HomeKit and more.

What's next for Apple? It's unlikely they'll be able to hold on to the Trillion dollar valuation for very long, however the company is expected to roll out a bevy of new products, including new iPhones, iPads and Macs that should bring in even more revenue and consumer interest and buzz this fall.