Apple was in a race with other technology giants Amazon, Alphabet and Microsoft to be the first US company to pass the trillion dollar mark. Tim Cook, in a memo to Apple employees, stated that reaching the trillion dollar mark was a "significant milestone" and referenced Apple founder Steve Jobs saying "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.”
The appreciation in Apple's stock came after the US company reported a strong fiscal third-quarter with results that were higher than analysts predicted. The technology giant attributed the results to high demand of its iPhone X and a 28% increase in the revenue of business services.
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