CUPERTINO, Calif.—Apple has become the world's first $1-trillion company, and in the process now represents in market valuation approximately 77% of total U.S. credit union assets.
In other words, the one company has a valuation equal to the combined savings and loans of the approximately 115 million Americans who are credit union members.
Apple became the first company to ever reach a $1-trillion valuation after a quarter of better-than-expected results, considered to be because customers shelling out $999 for the iPhone X. After Apple shares saw a boost, the company has set aside $100 billion to buy back stock, Forbes said.
“What this means is that Apple is worth more than all but the 15 richest countries in the world…While (Apple CEO Tim) Cook said that the news was a ‘significant milestone,’ it was not the ‘most important measure’ of the corporation's success,” Forbes said.
Forbes Insights
"Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to our values," Cook stated in a memo. "Steve [Jobs] founded Apple on the belief that the power of human creativity can solve even the biggest challenges – and that the people who are crazy enough to think they can change the world are the ones who do."