Looking like a trillion dollars

The race to become the world’s first trillion dollar company may officially have been won by Petrochina, but that has largely been ignored by investors due to what could charitably be described as a complicated ownership structure that has governmental paws all over it.

Apple has sneaked over the line to become the first US company to hit the milestone, and it has done so on the back of a dedication to excellence and innovation that has made it a defining emblem of the modern era.

Of course, Apple has the classic backstory of a couple of guys tinkering in a garage. And the tale of the mercurial genius of Steve Jobs being cast out into the wilderness then coming back to save the company from bankruptcy and propel it to global preeminence has an almost Old Testament feel to it.

The ipod, the ipad and above all the iphone have forever altered the way in which the average civilian engages with technology, and behind every product the lurking presence of Sir Jony Ive ensures a fanatical obsession with design excellence.

There are nonbelievers who point out that the company’s products may be a little on the pricey side, and that its innovation pipeline has slowed since Tim Cook took the reins. But Cook has been astonishingly successful at ensuring that the loot keeps rolling in, and it’s worth remembering that Apple’s market cap was a mere $300m when he took over.

Having gone up by a cheeky 50,000% since it floated in 1980, the share has been something of a performer. As long as its products continue to delight, the show will go on.

US policies with serious implications appear to be worked out on the back of a fag pack