Apple Isn't the First Stock to Take a Shot at $1 TrillionBy
Warren Buffett boosting his stake in Apple Inc. has pundits predicting it is poised to hit $1 trillion in market value. But the iPhone maker isn’t the first to tread that lofty path.
But the state-controlled energy company dropped below that level within a day and had fallen below $500 billion by March 2008. It now ranks fifth among Chinese companies, at less than half the market values of e-retailing behemoth Alibaba Group Holding Ltd. and e-payment giant Tencent Holdings Ltd. -- which both traded above the equivalent of $500 billion at several points this year.
Apple topped $500 billion for the first time in February 2012. Currently, Amazon.com Inc., Microsoft Corp., Google’s parent Alphabet Inc. and Facebook Inc. are all half-trillion-dollar-plus companies.
Microsoft was the first company to reach $500 billion in July 1999. It was about half China’s annual gross domestic product at the time. China’s GDP is now more than $11 trillion.