Apple is first public company worth $1 trillion

Apple has become the world’s first public company to be worth $1 trillion

Published

6 years ago

August 2, 2018

Apple has become the world’s first public company to be worth $1 trillion, BBC reports.

The iPhone maker’s market value reached the figure in late morning trading in New York as its shares rose to a new record high above $207.

The stock has been rising since Tuesday when it reported better than expected results for the three months to June.

Apple’s stock has risen more than 50,000% since it first listed in 1980 – far higher than the 2,000% increase for the S&P 500 over the same period.

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Since the iPhone first went on sale in 2007, Apple shares have soared by 1,100% and have jumped almost a third in the past 12 months.

Apple began in the garage of co-founder Steve Jobs in 1976 and was initially best known for its Mac personal computers before its smartphone paved the way for the app economy.

Mr Jobs died in 2011 and was succeeded as chief executive by Tim Cook.

Related Topics:Apple first public company worth $1 trillion Slam Reports Steve Jobs

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7th Africa Tech Summit set to hold in Nairobi in February

Published

11 hours ago

December 13, 2024

Isaac Dachen

All is set for the seventh edition of Africa Tech Summit Nairobi, powered for the second consecutive year by Nigerian fintech, Raenest.

According to the organizers, the Summit which will take place on February 12-13, 2025, at the Sarit Expo Centre in Nairobi, will connect over 2,000 industry leaders, corporates, investors and international delegations, with a special feature on a B2B summit, exhibition, and awards.

A statement announcing the upcoming Summit say it will feature four key track themes – Africa Money & DeFi Summit, Africa Climate Tech & Investment Summit, Africa Startup Summit, and the Africa Mobile & App Summit.

“The Africa Tech Summit will deliver a packed agenda of fireside chats, panel discussions, keynote addresses, and masterclass sessions, creating a platform for knowledge sharing and networking,” Andrew Fassnidge, founder of Africa Tech Summit, said in the statement.

“We’re delighted to welcome Raenest back as our headline partner for the seventh edition of ATS Nairobi.

“Our mission has always been to help ventures across the continent and beyond connect and scale, and Raenest’s commitment to empowering African businesses to manage global financial operations aligns perfectly with this,” said Fassnidge.

Tech

Huawei launches cloud service in Nigeria

Published

2 days ago

December 11, 2024

Isaac Dachen

Global technology company, Huawei, has launched its first African hyperscale local cloud service in Nigeria, making it the first international cloud provider to offer such services in the country.

The CEO of Huawei Nigeria, Chris Lu, who unveiled the new local cloud in Lagos on Wednesday, said it was powered by Tier 3+ data centres, providing ultra-fast services with a latency of just 15 milliseconds.

According to Lu, this will ensure that data storage and computing resources remain within Nigeria, benefiting local businesses and sectors, particularly fintech companies that require strict adherence to data protection laws.

At the launch event, themed “Leap Now With A Better Cloud,” Lu emphasised the company’s dedication to supporting Nigeria’s digital economy.

He noted that the initiative was a significant milestone towards meeting the country’s data protection regulation, and alignment with the Nigeria Data Protection Commission’s objectives to limit cross-border data transfer and have data kept within the country.

“With disruptive technology, we can transform our daily lives, our industries, and our economy. Not knowing where your data is stored is terrifying,” Lu said.

“The Huawei local cloud ensures your data and that of your customers are safely protected. Our local cloud provides better latency, better services, and ensures data sovereignty for our customers.

“Huawei’s is offering enhanced data sovereignty, reduced latency, and bolstered support for local businesses.The service aims to support Nigerian startups, SMEs, and the broader tech ecosystem and aligns with Nigeria’s regulatory environment and digital transformation goals.”

Beyond cloud technology, Huawei has invested heavily in Africa’s tech ecosystem, forming partnerships with governments and private entities to drive digital transformation.