Apple could be the first trillion dollar company. Its stock just shot way up, sending Apple’s market cap to an all-time high at $925.4 billion — a signal of how big the company is.
As of this writing, it’s down to $906 billion, bus still puts it way ahead of its competition, Alphabet and Amazon. Amazon is worth about $775 billion and Alphabet (Google) is worth about $798 billion.
On March 12, Apple announced it was buying magazine subscription service Texture, which gives readers 200 magazines a month for a fee. Apple didn’t say how much it would pay for it. The company also recently put out its earnings report, falling a little short of experts’ expectations, because of slightly slumping iPhone sales. But that didn’t worry investors, as Apple still made $20 billion in profit and its revenue soared to $88 billion for the quarter — which is up 16% and also an all-time high for the company.
It seems like nothing can stop the powerful company, which is responsible for most of our phones, computers, gadgets and tablets. With assets that massive, Apple will likely be rolling out some cool new products or announcing new updates soon — we’ll just have to see what they’re cooking up.