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Apple first to reach market value of US$900 billion

Last Updated Nov 3, 2017 at 11:24 am EST

Apple Store Carrousel du Louvre

Apple stock climbed to a record in early Wall Street trading on Friday, in the wake of better than expected earnings and initial sales of the iPhone X.

At one point, Apple shares were trading at US$174.26.

With the increase in its stock price, the company was the first to reach a total market value of $900 billion.

Ahead of the iPhone X release, Apple shipped 46.7 million iPhones during the three months ending Sept. 30, according to its fiscal fourth-quarter report released Thursday. The company posted a profit of $10.7 billion and $52 billion in revenue.

CEO Tim Cook is predicting a record-breaking Christmas sales quarter for the company, with a target of $84 billion in revenue.