Apple is on the verge of becoming the first US$1-trillion publicly listed U.S. company, but even if it gets there, it could soon be overtaken as Amazon.com surges from behind.
Started in the garage of co-founder Steve Jobs in 1976, the iPhone maker’s annual revenue has ballooned to US$229-billion, greater than the gross domestic product of countries including Portugal and New Zealand.
Apple’s market capitalization on Thursday topped a record US$934-billion, following its unveiling last week of a US$100-billion buyback budget and news that Warren Buffett’s Berkshire Hathaway Inc. dramatically increased its stake in the company.
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