Apple shares have gained 33% since the start of the year, helped by a buyback program that chief executive officer Tim Cook extended to total $210 billion last week, from $175 billion last year. Photo: ReutersSan Francisco: Apple Inc. became the first US company with a market value of more $800 billion as investors bet the next iPhone will spur a resurgence in sales. The stock rose 1% Tuesday to close at $153.99 in New York, giving it a market capitalization of about $803 billion. The shares have gained 33% since the start of the year, helped by a buyback program that chief executive officer Tim Cook extended to total $210 billion last week, from $175 billion last year. In November of that year, PetroChina Co. briefly became the first global company with a market capitalization of more than $1 trillion.

Source: Mint May 10, 2017 02:26 UTC