APPLE HITS $1 TRILLION

Well, that was fast. Almost immediately after market-watchers noted a stock price that would indicate Apple had hit a $1 trillion market capitalization, the company hit that benchmark on 8/2.

The news follows a robust Q3 report from Cupertino that underscored the huge growth in its services sector (which includes Apple Music). According to a filing from 7/20 the company has 4,829,926,000 shares in circulation. A stock price of $207.05 would cause it to reach the magic number (we'd double-check that but our abacus is broken).

At the moment the company's stock is trading at or around $208.

In a probably unrelated story, the U.S. deficit is also worth $1 trillion.