When Will Apple Hit the Trillion Dollar Mark?

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When will Apple become the first company ever to be valued at $1 trillion? This new guessing game is the focus of the article by Nick Bilton.

Questions:

1. Explain the $1 trillion in accounting terms (or the accounting equation). What is/are the product(s) that got the company to this point? Research these products and find out the estimate of profit that Apple makes on each one sold.
2. Why does the article mention Nokia and Microsoft? Could you see Apple in either one of these situations in a few years? Why or why not?
3. What does the article predict as the second phase in the Apple revolution?

Source:

Bilton, N. (2012). Disruptions: Will Apple Be the First to Break $1 Trillion? The New York Times, Sep. 23 (Retrievable online at http://bits.blogs.nytimes.com/2012/09/23/will-apple-be-the-first-to-break-1-trillion/?hp)