Apple becomes 1st trillion-dollar company

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CUPERTINO, CA – OCTOBER 04: Apple CEO Tim Cook speaks at the event introducing the new iPhone 4s at the company’s headquarters October 4, 2011 in Cupertino, California. The announcement marks the first time Cook introduces a new product since Apple co-founder Steve Jobs resigned in August. October 4, 2011 in Cupertino, California. (Photo by […]

Apple has become the world’s first publicly traded company to be valued at $1 trillion.

The milestone marks the financial fruit of stylish technology that has redefined society since two mavericks named Steve started the company 42 years ago.

The peak reached Thursday seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for 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 rose 2.7 percent to an all-time high of $207.05 around midday. They’re up 22 percent so far this year.

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