Apple's market cap crosses $800 bn for first time
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San Francisco: In yet another milestone, Apple's market capitalisation briefly soared past $800 billion thresholds, making it the first company ever with such a mammoth valuation.
Apple's shares closed up 2.7 percent for the day at $153.01 late on Monday, taking the company to a market value of $797.8 billion, Fortune reported.
According to White, iPhone 8, repatriation of foreign cash and new innovations could bring more good news for Apple shares.
Alphabet, Google's parent company, is the second most valuable company with a market cap of $653 billion, followed by Microsoft at $532 billion.
CEO Tim Cook blamed a "pause" as customers wait for the next iPhone which is due to release later in 2017.
The dip in iPhone sales was offset by services, including Apple Pay, iCloud and the App store, which recorded an 18 per cent increase in sales to $7 billion.
Due to the robust sales of its iPhone 7 Plus, the revenue from iPhones climbed one per cent to $33.2 billion.