Apple's March to Trillion Dollar Market Cap May Take a Bit Longer Based on Latest Share Count
Apple has filed its quarterly 10-Q form with the U.S. Securities and Exchange Commission today, confirming that the company has a total of 4,829,926,000 outstanding shares on the stock market as of July 20, 2018. That's down from 4,915,138,000 shares three months earlier as Apple has continued to buy back its own stock.
Based on multiplying the latest total by Apple's closing stock price today of $201.50, the iPhone maker has a market cap of roughly $973 billion, making it ever so close to becoming a trillion dollar company.
The exact moment that Apple crosses the trillion dollar mark will be difficult to determine, as Apple continues to buy back and retire shares, reducing the number of outstanding shares. The total reflected in the 10-Q form is already nearly two weeks old, and has likely decreased over that time.
Everyone from investors to fanatical customers has been closely watching the AAPL ticker on the stock market to see if Apple will become the world's only and arguably first publicly traded company with a trillion dollar valuation. Tech rivals Amazon, Microsoft, and Google parent company Alphabet are also in the race.
For now, the wait for $1,000,000,000,000 continues, but it doesn't look like it will take much longer for Apple to pull off the feat.