It’s a lot of money and not really $1 trillion because of how the markets work, but it is a significant milestone that only a select few organisations had a chance of breaching.
The reaction has been predictable in many quarters, which was to be expected, and there is a sense that it will not end any time soon.
I must say that I am not conflicted at all with regards to the arguments used to disparage the amount of money Apple makes and this is based on my own personal experience.
I realise that my iPhone X cost significantly less to make than the price I paid, but this argument is bereft of the true facts. $300 may be the cost of the components, but you then need to add research, development, labour costs, accommodation, marketing, packaging, transport and so on, and on and on. Potentially, the actual profit on an iPhone X is much less than the retail price minus parts cost, but that $1 trillion has to come from somewhere and no doubt the iPhone makes up a significant chunk of it.
For me personally it comes down to experience and what I consider to be value. I am not a geek and no longer get a thrill from a new computer or phone. I just want tools to help me get things done and to work consistently for extended periods of time.
My iMac was 9 years old when it made its way to a shelf last year and my new MacBook is an older MacBook that was bought second-hand. Both have worked perfectly and will likely continue to do so under heavy usage. That iMac cost me £999 and £100/year over almost a decade later feels like money very well spent.
If I could keep an iPhone for more than a year the X would likely last me for 5 years at least and all of a sudden the price does not appear to be too extreme, although obviously it is initially.
Ultimately, Apple has got to $1 trillion because the competition has been unable to deliver products that are as reliable, support that is as accessible and an experience which does not feel like computing. Complain about Apple all you want, but you can only sell what people want to buy and if you believe that this is acheived through some kind of cult-like thinking over many decades you are crazy.