Our obsession with unicorns will soon fade away as Apple is now $1 trillion. We don’t know what would be the term used to describe such a company but we are sure that after Apple there will be some more companies joining the ranks of the trillion dollar club.
Yesterday, Apple stock crossed $207.05 per share making its market capitalization more than 1 trillion dollars. This happened on the heels of a very positive and pleasant Q3 revenue report. Since the stock market is volatile, it may happen that Apple’s value will go down from 1 trillion dollars as the individual stock prices go down as well. It is to be noted here that Amazon was the biggest competitor in the race to become the first trillion dollar company in the world, so don’t be surprised if in a few days Amazon reaches the same ranks too.
Right now there is only 1 trillion dollar company in the world but almost a decade ago, a Chinese company, PetroChina reached the same ranks for a short span of time but as the stocks went down the valuation went down as well.
Aspiring entrepreneurs usually mention Unicorn – a billion dollar company – as their dream but now they will have to upgrade their ambitions and dreams as well because a billion dollar company is not cool. What is cool is a trillion dollar company.
If we, for a second, think about the trillion dollars, it is a sheer huge amount of money unfathomable for an individual. Just to put things in perspective, there are 1000 billion dollars in a trillion. As per a report by World Bank, Pakistan’s Gross Domestic Product is 283 billion dollars. Yes, Pakistan’s GDP is less than the highest valued company in the world.