Race is on for second place after Apple's $1 trillion valuation

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Even with its $1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive.

Apple became the first private-sector company to surpass $1 trillion in market value Thursday following its latest surge after reporting strong quarterly earnings.

He took over after the death of founder Steve Jobs, who was identified with launching many of Apple's most iconic products, including the iPhone smartphone and the iPad tablet.

Amazon is now the second-largest publicly-listed US company, with a market capitalization of $889 billion, followed closely by Alphabet and Microsoft, at $856 billion and $830 billion respectively.

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"While we have much to be proud of in this achievement, it's not the most important measure of our success", a spokesperson confirmed Cook to have written in the letter, with the latter asserting that the innovation and principles made Apple what it is today, reported CNN.

Jobs eventually introduced such popular products as the iPod and iPhone that have driven Apple's rise.

Adjusted for splits, Apple's stock price has risen almost 40,000% since its initial public offering in 1980.

Now, the non-hardware services category is fuelling Apple's continued growth. On Tuesday, the company said Apple Services, which includes things like the App Store and Apple Music, saw a 31% jump in revenue.

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For context, passing the $1 trillion mark means Apple now has a value greater than the gross domestic product of all but 26 major countries; its value is higher than the GDP of Argentina, the Netherlands, Sweden, and Switzerland, among others, according to the CIA's World Factbook.

The Cupertino, California company's shares added another 0.3 percent on Friday, putting its market capitalization at $1.005 trillion. In 2007, Chinese government-controlled PetroChina briefly reached a stock market value of about $1.1 trillion following its public listing in Shanghai.

With this feat, Apple streaks ahead of its Silicon Valley rivals - Amazon and Microsoft - to hit the one-trillion dollar threshold. That put Apple on a path to overtake Exxon Mobil in 2011 as the largest USA company by market value.

"Just as Steve always did in moments like this, we should all look forward to Apple's bright future and the great work we'll do together".

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