Apple is the world's first trillion dollar company

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Apple's rise in recent years has signaled the strength of the technology industry. For them, superbig is automatically superbad.

The BBC reported that ever since the iPhone went on sale in 2007, Apple shares have soared by 1,100% and have jumped nearly a third in the past 12 months.

"Many on Wall Street doubted my new forecast, saying the iDevice King was suffering from a smartphone sales hangover", Michael told us. Ives continued to say: "It just speaks to the vision that [co-founder Steve Jobs] and now [CEO Tim Cook] have had in making sure Apple isn't just a hardware company".

Steve Jobs and a few other people created Apple 42 years ago in Cupertino, California.

Of course that's just what happened.

Jobs eventually introduced such popular products as the iPod and iPhone that have driven Apple's rise. The story of Apple is really the story of modern capitalism doing what it does best: turning imagination into reality. He's right. It's extremely hard to avoid comparing Apple's good fortunes with the recent slump at Facebook, which can be crudely summed up as the result of the social network's user-exploiting ways catching up with it. As a company gets bigger, its growth rate tends to slow down.

The company known for iPhones and the Mac computer is not the first publicly traded company to reach the $1 trillion mark. Apple's market capitalization - a common financial measure of worth which multiplies the number of shares by the share price - makes the company worth more than the economies of, for example, Saudi Arabia, Switzerland and Taiwan.

Apple's had launched in 1976, and after its early success the company's profits and products were "hitting bottom" in 1996, according to The New York Times. Anxious that companies aren't spending enough on R&D?

The Californian company announced quarterly revenue of $53.3bn in the three months to June, an increase of 17 per cent year-on-year. Meanwhile, the Services division - which includes the App Store, Apple Music, Apple Care, iCloud and Apple Pay - is becoming an increasingly important driver of revenue too.

Like that's automatically a bad thing.