SAN FRANCISCO Amazon, Microsoft and Alphabet are locked in a tight race to become the second publicly-listed US company to reach a $1 trillion stock market value after Apple became the first to touch the 13-digit milestone. Apple breached the $1 trillion mark with shares valued at $207.05 that came back down shortly after meaning Apple isn't a permanent $1 trillion company, yet.
The Silicon Valley company's stock has skyrocketed more than 50,000 percent since it went public in 1980, greatly exceeding the S&P 500's impressive 2,000 percent gain during the same period.
Jobs, who died in 2011, was succeeded as chief executive by Tim Cook, who has doubled the company's profits but struggled to develop a new product to replicate the society-altering success of the iPhone, which has seen sales taper off in recent years.
Apple has sold more than a billion iPhones.
Amazon's in second place, with a market cap of $884.86 billion, and good ol' Google (well, Alphabet, technically) is in third at $854.49 billion.
PetroChina was briefly worth about $1.1 trillion after floating in Shanghai in 2007, although most of its shares were held by the Chinese government.
NASA is naming 8 astronauts to fly SpaceX and Boeing's new spaceships
Boeing's capsule is reusable up to 10 times with a six-month turnaround time, according to Starliner mechanical engineers. Initially Congress did not provide as much money as NASA requested because of skepticism that the program would succeed.
That said, the competition's continued success doesn't lessen the significance of today's milestone - a capstone to the company's meteoric rise to power over the last decade after a period of near-death in the '90s.
Earlier today, the tech firm's own stock app jumped the gun and mistakenly said Apple had already broken this milestone.
Its market value might be double that of Apple or even more.
Since September 2017, Apple has seen double-digit year-on-year revenue growth across the Greater China region.
Apple has become the world's first $1 trillion ($1,000,000,000,000) company. Amazon had the second-largest United States market cap as of Wednesday, at roughly $872.5 billion.
Apple is the first US company to hit the $1T milestone; here's why AAPL shares can climb even higher. The Company boasted a revenue of $61.1 billion, a 15% increase from the year-ago quarter.