Update: Apple stock breached the price of $207 that was needed to touch market capitalization of $1 trillion
Apple has been on the verge of crossing the fabled $1 trillion mark in market capitalization for the last few days, and it may well have crossed that number. But that entirely depends on who you ask. If you pose the question to Siri right now, she’ll tell you that Apple has crossed the milestone already. Google’s estimate is significantly lower than Apple’s; there’s about $45 billion of a difference, at the time of writing this.
The reason for this difference has something to do with where each source gets its information from. Apple’s source is Yahoo Finance, which is reporting that the market cap is in fact in excess of $1 trillion. Google Finance seems to be taking into account the last round of share buybacks by Apple, and this round of buybacks is the cause of the discrepancy. Simply put, it isn’t entirely clear exactly how many Apple shares are out there to be counted towards Apple’s official market capitalization figure.
It was earlier reported that Apple’s share price would have to go a little beyond $207 to hit the $1 trillion market cap figure, and it’s a bit short of that right now even by Google’s numbers. It’s definitely on the rise though, and a small bump will ensure that everyone – whether it’s Yahoo Finance, Google Finance, Bloomberg or anyone else – agrees that Apple, as a company, is worth $1 trillion.
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Apple and Amazon have been in a tight race to see which company gets to the mark first. And while Jeff Bezos is the undisputed richest person in the world (thanks to his large holding of very valuable Amazon stock), the company he founded will have to settle for second place right now, and won’t have the distinction of being the world’s first $1 trillion enterprise.