Apple first to hit $1 trillion in market value

SAN FRANCISCO (AP) — Apple has become the world’s first publicly traded company to be valued at $1 trillion.

The company reached the milestone Thursday after its shares rose to an all-time high of $207.05. They’re up 22 percent so far this year.

Apple has been the leader among a handful of companies that have used new technology to disrupt established industries over the past couple of decades. Amazon is the second most valuable company at $885 billion and Alphabet, the parent of search leader Google, is worth about $860 billion.

Apple’s achievement seemed unimaginable in 1997 when the company teetered on the edge of bankruptcy, with its stock trading for less than $1.