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Apple Becomes First Trillion-Dollar Public Company

(Heinz-Peter Bader/File Photo/Reuters)

Apple became the world’s first publicly traded trillion-dollar company late Thursday morning.

The tech giant’s shares briefly peaked above $207 before dipping slightly, carrying its market value above the trillion-dollar mark. The company beat out Amazon and Microsoft, who were nipping at its heels to become the first to reach the coveted milestone.

The the jump was attributed to Tuesday’s quarterly earnings report, which exceeded analyst expectations.

Steve Jobs co-founded Apple in his garage back in 1976. After a low point during the 1990s, the company rode a wave of success spawned by its iPods and Mac laptops before the 2007 debut of the iPhone, which caused a meteoric rise in market value of over $100 billion dollars that year.

Shares have spiked 1,100 percent in the eleven years since the first iPhone’s release, and a whopping 50,000 percent since the company first went public.

Last year, Apple sold 280 million iPhones, iPads, and Macs, and so far this year the company’s stock has risen 22 percent.

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