On 2 August 2018, Apple made history by becoming the first public business worth $1 trillion. Hours after accomplishing the landmark, the corporation’s CEO Tim Cook sent out notes to his more than 1,20,000 employees, thanking them for getting the company to the mark.
In the memo, which was attained in full by Reuters, Tim Cook though simplifies that, while the $1 trillion spot is a breakthrough, it is not something the business emphases on. He writes that the monetary revenues are a simple outcome of the corporation’s innovation.
“Today Apple passed a significant milestone. At our closing share price of $207.39, the stock market now values Apple at more than $1 trillion. While we have much to be proud of in this achievement, it’s not the most important measure of our success. Financial returns are simply the result of Apple’s innovation, putting our products and customers first, and always staying true to our values.”
The Apple logo is seen on a computer screen in this illustration photo taken in Bordeaux, France, February 1, 2017. REUTERS/Regis Duvignau – RC19DEA6F9E0
Cook reminds his employees in the memo that Steve Jobs founded this company with the aim of solving the biggest challenges, and that even after this milestone, the company’s focus needs to remain on that.
“Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges – and that the people who are crazy enough to think that they can change the world are the ones who do. In today’s world, our mission is more important than ever. Our products not only create moments of surprise and delight, they empower people all around the globe to enrich their lives and the lives of others.
Just as Steve always did in moments like this, we should all look forward to Apple’s bright future and the great work we’ll do together.”
Amazon had also been approaching the verge, outstanding $900 billion in marketplace value in July. Apple had fairly the head start, however, touching $900 billion in November.
Many on Wall Street noted previous this week that Apple was decisively on the trail to $1 trillion. Aswath Damodaran, professor of finance at New York University’s Stern School of Business and the alleged dean of valuation, said the stock is still low-priced even at $1 trillion.