Apple market value reaches $1,000,000,000,000

Apple on Thursday reached a milestone that these icons of capitalism never dreamed of: a market value of more than $1 trillion.

That landmark is the result of an extraordinary corporate success story. In a span of just 21 years, a near-bankrupt computer maker evolved into the most valuable publicly traded company in the United States, one whose innovative products have reshaped swaths of everyday life.

Even though some think Apple (AAPL) needs a new product to keep sales and profits booming, Apple has rallied past the trillion level thanks to solid sales of the iPhone 8 and X — particularly in China and Japan — and surging services revenue from the App Store.

Related: Apple is showering its investors with cash

Wall Street thinks Apple could go even higher. Thirteen analysts have a price target of above $225 for Apple. The most bullish, Brian White of Monness, Crespi, Hardt & Co., has a price target of $275 a share. That would value Apple at $1.3 trillion.

Apple is benefiting from investor euphoria surrounding the tech sector broadly as well — and it could soon have company in the trillion dollar club.

Amazon (AMZN), Google owner Alphabet (GOOGL) and Microsoft (MSFT) have all rallied to near record highs this year, too. Amazon is worth nearly $900 billion while Google and Microsoft are each now worth more than $800 billion.