"To the overall economy it shows that people don't mind paying a thousand dollars for a cell phone. Clearly that does a lot of other things other than just make telephone calls. But I would say that four or five years ago the idea of that might have been, you know what that's a price point that people are probably going to say you know what enough's enough I'm not going to pay a thousand dollars for a cell phone, that's crazy. That hasn't stopped their brisk sales in the iPhone X at all. And it shows that the economy is strong enough to where people just don't think twice about it."
New York - File Video
5. Man uses facial recognition software on iPhone X
"They announced their earnings on Tuesday night. And unlike a lot of other companies that investors have sold, even after positive earnings reports, Apple did not get that sell on the news reaction from their investors either yesterday or today."
"Clearly Apple's flagship product right now is the i-10 or it was called maybe the X ten just before it came out. That is the phone that does the facial recognition. It does sell for about a thousand dollars I'm sure through the cell phone companies you know that's always going to be on a payment situation over a couple of years and it just hasn't stopped their marketability of that at all. Clearly this is an iPad, iPhone company and they have some subscription things that they're going to try to roll out maybe a little bit of competition with Netflix. We'll just have to see how that plays out."
"The fascinating thing about Apple is that unlike Amazon which trades at a PE (price earnings ratio) of about 165, Apple trades at a PE just under 19. The S&P 500 trades at a PE of around 20, 20 and-a-half. So from a fundamental perspective it is not a wildly expensive company evidenced by the fact that Warren Buffett took a very large position in the stock within the last couple of years and he has not been a seller."
Apple has become the world's first publicly traded company to be valued at $1 trillion, the financial fruit of stylish technology that has redefined what we expect from our gadgets.
Apple hit the $1 trillion mark when its shares reached $207.04 around midday in New York. They rose to an all-time high of $208.32 before falling back slightly to 207.39. The shares are up around 23 percent so far this year.
The achievement seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1, on a split-adjusted basis, and its market value dropping below $2 billion.
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.
If someone had dared to buy $10,000 worth of stock at that point of desperation, the investment would now be worth about $2.6 million.
Jobs eventually introduced popular products such as the iPod and iPhone that subsequently drove Apple's rise. The stock has been surging this week as anticipation mounts for the next generation of iPhone, expected to be released in September.
Although Apple has yet to produce another mass-market sensation since Steve Job's death, Cook has leveraged the legacy that Jobs left behind to stunning heights. Since Cook became CEO, Apple's annual revenue has more than doubled to $229 billion while its stock has quadrupled.
More than $600 billion of Apple's current market value has been created while Cook has been CEO. That wealth creation exceeds the current market value of every publicly traded U.S. company except Amazon, Microsoft and Google's parent, Alphabet.
That has raised concerns that Apple has become far too dependent on the iPhone, especially since iPad sales tapered off several years ago. The iPhone now accounts for nearly two-thirds of Apple's revenue.
But Cook has capitalized on the continuing popularity of the iPhone and other products invented under Jobs' reign to sell services tailored for the more than 1.3 billion devices now powered by the company's software.