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Apple earlier in the day became the first USA public company to be valued at $1 trillion dollars. The company reached the record market cap when Apple's stock price briefly hit $207.05 in midday trading, before shares once again retreated. Apple's own "Stocks" app, which is based on Yahoo Finance data, also put the company's value at $1.01 trillion. The tech giant had relatively flat iPhone sales but increased its revenue thanks largely to higher-priced models including the iPhone X, with a list price of just under $1,000. Incidentally, the trigger price for Apple to reach a trillion-dollar valuation has been slowly creeping upwards as the company continues to aggressively buy back shares as part of its capital return program.

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

The ailing Jobs handed the corporate reins to his chief lieutenant, Cook, in 2011.

All of these products and more have helped Apple get to where it is today the world's leading company, a position that Apple will need to fight to keep against increasingly tough competition. On Thursday, Amazon's market capitalization was around $874 billion. Shares of Apple this week traded at about 15 times expected earnings, compared to Amazon at 82 times earnings and Microsoft at 25 times earnings.

"The organic growth of these so-called steady-eddie companies is nowhere near that of Apple", [Cramer] said of the consumer packaged goods plays.

Hot on Apple's heels is Amazon.com, the second-largest listed USA company by market value, at around $880 billion, closely followed by Google-owner Alphabet and by Microsoft.

June 2007: Apple unveils the iPhone.


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