SAN FRANCISCO (CBSNews/AP) — Apple Inc.’s publicly traded worth just put it in never-before-seen territory: the world’s first $1 trillion company.
The financial benchmark was reached Thursday, 42 years after Steve Jobs, Steve Wozniak and Ronald Wayne founded the Apple Computer Company in Los Atlos, Calif.
At just over $207 a share when the company hit the trillion dollar mark, the move is a far cry from the company’s low point in 1997 when bankruptcy seemed its fate and shares traded at less than $1.
To survive, Apple brought back its once-exiled co-founder, Steve Jobs, as interim CEO and turned to its archrival Microsoft for a $150 million cash infusion to help pay its bills.
Jobs eventually introduced such popular products as the iPod and iPhone that have driven Apple’s rise.
Apple shares were up 22 percent so far this year.
(© Copyright 2018 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)