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.
Shares of Apple finished the formal Wall Street trading day at US$207.39, topping the magic number two days after the California tech giant reported strong quarterly earnings.
After closing up almost 6 percent in the previous trading session, Apple shares climbed another 2.4 per cent on Thursday, hitting $207.05, the price needed to reach a $1 trillion market cap, or total stock market value, at 11.50 a.m, Efe reported. The company's stock price started rising subsequently, resulting in 2.92 percent gain during the trading hours and closing at $207.39 in NY on Thursday. "It's one of those things that does not mean anything by itself... it's more a testimony of the importance of Apple on the market".
When Cook succeeded Steve Jobs as Apple CEO in 2011, he was granted a large welcome package of company stocks then worth $376 million.
Apple's stock market value is greater than the combined capitalisation of Exxon Mobil, Procter & Gamble and AT&T.
For example, last year, he received $89 million worth of shares (560,000 shares at approximately $160 per share) because Apple shares' three-year appreciation exceeded that of two-thirds of the S&P 500 companies. It now accounts for 4 percent of the S&P 500.
CEO Tim Cook Thursday mailed a memo to over 120,000 Apple staff members, referring the trillion dollar market capitalization as a historic milestone but cautioned them that the feat wasn't the "most important measure" of the company's success, according to Reuters.
Cook has put a focus on digital content and services, positioning Apple to make money from music, movies, apps, subscriptions and more - all sold to the vast "install base" of people using devices made by the company.
"Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges - and that the people who are insane enough to think they can change the world are the ones who do".
"Just as Steve always did in moments like this, we should all look forward to Apple's bright future and the great work we'll do together".