Apple officially becomes the first US based $1 trillion dollar company in terms of market capitalization, the day after its stock hit the $200 mark. It is not the first ever company in the world to hit the $1 trillion mark, PetroChina hit the trillion dollar mark in 2007, briefly. Its stock fell below that mark, soon.

Apple achieved this milestone by hitting a stock price of $207.05 in the trading today(stock has since dropped down a little), giving it a market capitalization over $1,000,000,000,000. Apple, on Wednesday, revealed a share count of 4,829,926,000, meaning that, in order to hit the $1 trillion value, the stock was required to reach $207.05. The previous number was thought to be $203.45. Some publications declared Apple a trillion dollar company earlier in the day, that was based on an outdated number.

The company’s stock rose 5 percent in the 24 hours after the earnings announcement, passing the $200 mark on Wednesday. Apple’s stock price is followed by its record breaking Q3 2018 earnings, which Apple announced on Tuesday. Apple set a new fiscal third quarter record with $53.3 billion revenue, beating Wall Street’s expectations. iPhone sales remained strong during the quarter with 41.3 million units.

Apple and Amazon were in a battle over which would become the first US based company to hit $1 trillion, but Amazon’s shares have been trending down the last week. Its crossed $900 billion mark in July, 2018.

Apple was founded in the garage of Steve Jobs in 1976. Apple has launched a series of products that changed the way we technology like, mac, iTunes, iPod, iPhone, iPad, and more. The company almost went bankrupt in the late 1990s, after Jobs left the company in 1985 following a dispute with the company’s then-CEO. Jobs returned in 1997 and accepted a $150 million investment from rival Microsoft.

With new products expected later this year, including three iPhone models, iPads with Face ID, new AirPods, and much more. Apple would be expecting to have a record breaking Q4 as well. Apple would love to build on this. Lets wait and watch what happens.