Apple Hits Milestone Valuation

Normally Apple's quarterly results and financial related information is not posted to the site. This is because it is covered by a variety of sites like Six Colors and Dr. Drang.

However, today marks a big day in terms of Apple financials. Today Apple has become the first company to pass a $1 Trillion market valuation. Additionally, they have not just passed it, but when the market closed it was still above $1 Trillion.

Earlier in the day, if you were to use the Stocks app on your iPhone or iPad to look at the stock price, you would notice that the valuation indicated it was well above $1 Trillion, however this was an error.

[caption id="attachment_53656" align="alignleft" ] Incorrect valuation[/caption]

The reason for this error is that yesterday Apple announced an adjustment to the number of outstanding shares, 4,829,926,000 shares to be exact. This would mean that in order to reach a $1 Trillion valuation Apple would need to hit $207.05 to officially get to the magic mark. It is a sight to behold given that a mere 22 years ago Apple was facing the possibility of going out of business entirely. Here is the correct valuation amount.

[caption id="attachment_53655" align="alignleft" ] Correct valuation[/caption]