When you think about mobile devices, chances are high the nearest mobile device around you is probably an Android device. In fact, Google’s Android is the most popular mobile OS (or any OS for that matter) around the world. Then there are Apple devices powered by iOS; coming in at a far second place after Android.
Funny thing, Apple makes more revenue from the few iOS devices it sell (comparatively speaking) than the multitudes of Android devices constantly flooding the market. The greatest disadvantage Google has with Android popularity is that the OS is open source and free for all, so any OEM can grab it, put over their customized GUI and ship it in their device. Google does not get paid for that; but to be fair, the company gets a lot of data about the users from the OS, and therefore serves them (users) tailored ads.
On the other hand, Apple has a tight grip on their ecosystem. It produces the OS (both mobile and desktop), manufactures the devices, and sell them at a premium price. Even if you need a replacement part or accessories, Apple has put in place measures to ensure you are not likely to go to a third-party option; and if you do, that third-party must be affiliated (accredited by) to Apple.
It is safe to say that ‘monopolistic’ approach with premium design coupled with top functionality has seen the company attract somewhat ‘a cult’ following. Consumers who are loyal to the Apple brand; so much so that they are willing to wait over-night outside in the cold so they can be among the first to purchase a new flagship device the company releases.
Well, guess what! That business model has paid off for the Cupertino company big time. It is no secret, Apple is one of the most profitable companies in the world. Well, it has now surpassed being called just that and broke the glass ceiling to be America’s first trillion-dollar company.
On August 18, the company’s stock rose to an all-time high of $208.38. It hit that mark about 2 PM Eastern Time and pushed the market cap over a $1 trillion mark. Though it has since rescinded a bit; nothing significant, to move it back to a company worth billions. It is still well within the trillion-dollar regions.
Apple becomes America’s first company to surpass the trillion-dollar market cap valuation. The only other company to hit such marks is a Chinese oil and gas company PetroChina, which achieved the feet more than a decade ago.
As it stands, Apple is currently America’s most valuable publicly traded company. It is followed by e-commerce giant Amazon, which comes in at second plat with a market cap valuation of $884.86 billion. In third place is Google (well, these days it is called Alphabet) with a market cap of $854.49 billion.