Apple is now officially the first American company to hit a market value of one-trillion-dollars. The tech giant stock briefly hit the $207-dollar-five-cent-per-share price to bring it to the milestone.
Shares have skyrocketed since Apple reported better-than-expected quarterly earnings. "I think it just speaks to just how powerful the Apple ecosystem has become over the last few decades," says GBH Insights analyst Dan Ives. "This is not the end, that they hit $1 trillion. I view this as just kind of speaking to a new stage of growth and profitability."
What does that mean to the average person? Not much…except that you can’t complain about the cost of an iPhone.