Apple valued at $1 trillion as shares surge

Apple has become the world's first publicly traded company to be valued at $1 trillion.

The milestone marks the financial fruit of stylish technology that has redefined society since two mavericks named Steve started the company 42 years ago.

The peak reached on Thursday seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1.

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Apple has prospered thanks to the iPhone and other products (Andrew Matthews/PA)

To survive, Apple brought back its once-exiled co-founder Steve Jobs as interim CEO and turned to its arch-rival Microsoft for a $150 million cash infusion to help pay its bills.

Mr Jobs eventually introduced such popular products as the iPod and iPhone that have driven Apple's rise.

Apple shares rose 2.7% to an all-time high of $207.05 at around midday. They are up 22% so far this year.

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