Apple on Thursday become the first U.S. company to be worth more than $1 trillion on a public stock market.
A lower share count means Apple's stock must reach a higher price to reach a $1 trillion market capitalization.
The Silicon Valley stalwart's stock has surged more than 50,000 percent since its 1980 initial public offering, dwarfing the S&P 500's approximately 2,000-percent increase during the same nearly four decades.
Other tech giants have been approaching $1 trillion in market cap, but still lag behind Apple.
During that time, Apple evolved from selling Mac personal computers to becoming an architect of the mobile revolution with a cult-like following.
It began an ascent on Tuesday after reporting solid results in its latest quarter.More news: Trump offers help to farmers hit by escalating China trade war
Apple Chief Executive Tim Cook has a trillion reasons to smile.
"Apple's $1 trillion cap is equal to about 5 percent of the total gross domestic product of the United States in 2018", said David Kass, professor of finance at the University of Maryland. "A clean beat on the path to $1 trillion".
Apple said it expects revenue of $60 billion to $62 billion for the fiscal fourth quarter that ends in September 30.
Apple's stock has risen over 30 per cent in the past year, fuelled by optimism about the iPhone X, launched a decade after the original.
Amazon, Google owner Alphabet and Microsoft have all rallied to near record highs this year, too. 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.