Nasdaq website shows Apple hitting a $1,000,000,000,000 valuation | City A.M.

The Nasdaq’s website showed Apple finally hitting a $1 trillion valuation on Thursday afternoon – but some analysts warned it still has a little way to go to reach the landmark.

Apple’s share price is trading at $205.52 at the time of writing, taking it over the trillion-dollar mark by more than $10bn, according to the Nasdaq site.

Nasdaq, 15:57 BST

However, a filing with the SEC sent yesterday showed Apple had revised its share count at 4,829,926,000 on 20 July, less than the 4,842,917,000 it reported on Tuesday for the end of the June quarter due to share buybacks.

Some analysts have calculated that this would mean Apple shares would need to reach $207.04 per share before breaking $1 trillion.

Apple’s own Stocks app, which is based on Yahoo Finance data, puts the company’s value at $1.01 trillion.

Read more: Can Apple win the trillion-dollar race today?

Apple looks braced to reach the $1 trillion valuation ahead of its so-called FAANG rivals (Facebook, Amazon, Netflix, Google).

Amazon is in second place at $866bn, followed by Alphabet, the parent company of Google, at $843bn.

Its shares have increased more than 1.5 per cent so far this afternoon, bolstered by positive quarterly results for the Cupertino company in which it smashed analyst expectations.

Read more: Apple smashes expectations as iPhone X sales soar

Apple sold 43.1m iPhones in the June quarter, as customers flocked to its more expensive models like the iPhone X.

The average iPhone selling price hit $724, beating analyst expectations of $694, according to data from FactSet.