Apple is first public company worth $1 trillion

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Apple has become the world’s first public company to be worth $1 trillion on Thursday.

The iPhone maker’s market capitalisation reached the figure in afternoon trading in New York as its shares rose above $207.

The stock has risen about 9% since Tuesday when it reported better than expected results for the three months to June.

Apple’s stock has risen more than 50,000% since it first listed in 1980.

That compares with a (mere) 2,000% rise for the S&P 500 in the same period.