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>> Apple on the verge of making history Wednesday, within striking distance of becoming the first US company valued over a trillion dollars. Apple has been hovering over this record for months, but it was a strong earnings report for the third quarter and an upbeat outlook released Tuesday that propelled the stock over $200, an all-time high.
Reuters correspondent Steven Nellis.>> The reason that Wall Street is still so bullish on Apple, even though the smartphone market is pretty much flat in terms of units, and almost two-thirds of the company's revenue comes from smartphones, is that they're also growing this services segment. Wall Street thinks that, that can become a bigger piece of the pie in the long run.
Apple is already beating analysts' expectations on this services revenue. Just from things like Apple Music and iCloud, they haven't even started to make money off of their video efforts. So there's still a big unknown and a big potential money maker, even with all of the growth you already see right now.
>> It all started 1976 when buddy Steve Jobs and Steven Wozniak launched Apple Computer in Palo Alot, California, creating a personal computer, the Apple One. Those were followed by updated models that were equal parts technology and design. Eventually, that led to the Mac computer, the iPod, and the iPhone.
Jobs, the creative genius behind the company, died of pancreatic cancer in October 2011. Just prior to his death, Jobs handed over the reigns to Tim Cook, who has led Apple since August 2011.