Apple has become the first U.S. firm to have a market value of one trillion dollars. 

The share price of the U.S. tech company rose on Thursday by two-point-92 percent to close at 207-point-39 dollars and lift the firm’s market capitalization to one-trillion-one-point-seven billion dollars. 

Apple’s stock price has risen by 22 percent from the end of last year and by more than 32 percent in the past 12 months. 

Chinese oil and gas firm PetroChina was briefly worth over one trillion dollars in late 2007, but its value soon slumped as oil prices collapsed in the financial crisis. 

Founded in 1976, Apple was once on the brink of bankruptcy with its share price plunging to less than a dollar in 1997. However, its innovative products including the iPhone and iPad have catapulted it to success.