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Apple is now worth $1,000,000,000,000

That’s a lot of zeroes

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Tim Cook on stage during the WWDC keynote 2018 | GadgetMatch

Apple just became a trillion-dollar public company as the rise in their share price pushed it past the record-setting mark. They are now the first American company and second in the world to cross the momentous point.

The company co-founded by the late Steve Jobs in 1976 reached the historic milestone as their shares hit US$ 207.04. This happened a day after they posted strong Q3 earnings. Apple is now up more than 20 percent this year and has grown 2,000 percent since Tim Cook replaced Jobs as chief executive in 2011.

From their recent financial report, the tech giant racked up profits of US$ 11.5 billion in three months on the back of record sales that hit US$ 53.3 billion. This pushed the shares higher, raising the value of the company up from US$ 935 billion towards US$ 1 trillion.

The company is currently sitting on US$ 285 billion of cash reserves and made a net profit of US$ 48.5 billion last year.

The first-gen iPhone (left) beside the latest iPhone X (right) | GadgetMatch

Among the tech mammoths, Apple just won the race to one trillion but the rest are not far behind, because Amazon, Alphabet (Google’s parent company), and Microsoft are about to reach record highs this year, too. Amazon is worth nearly US$ 900 billion while Google and Microsoft are now worth more than US$ 800 billion each.

The first company to top a trillion-dollar valuation is PetroChina, an oil company. They briefly reached the mark in 2007 when their stocks began trading in Shanghai, but the prices quickly plunged afterward.

SEE ALSO: Huawei takes Apple’s crown as second largest smartphone brand

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The US has temporarily halted the TikTok and WeChat ban

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Late last week, Trump finally brought the hammer down on TikTok and WeChat. Supposedly, by Sunday, both Apple and Google should have pulled the platforms from their respective app stores. However, in a late ruling, that’s not happening anymore. As of late Sunday afternoon, the United States has temporarily halted the TikTok and WeChat ban.

In San Francisco, a US Magistrate Judge Laurel Beeler has ruled in favor of TikTok and WeChat. According to Reuters, the judge found “serious questions going to the merits of the First Amendment [or right to free speech] claim.” Further, the ruling states that the bans will not alleviate the government’s cybersecurity concerns at all. If anything, it will only impede the communication between private individuals using the platform.

Yesterday, TikTok officially filed a lawsuit against the Trump administration, citing violations in both the right to free speech and due process. Now, the judge’s ruling effectively blocked the ban from taking place. Of note, however, the ruling covers only WeChat.

On the TikTok side of things, the US Commerce Department temporarily halted the order of its own accord. Besides the lawsuit against the administration, TikTok is also in the middle of a finalized business deal with Oracle (whom Trump gave a blessing to).

Though both bans are on hold, the platforms’ futures are still up in the air. With a finalized buyer already, TikTok is looking to form a separate, American-owned corporation, TikTok Global, to continue its operations in the country. Meanwhile, WeChat is still figuring future plans on its own. Trump has also started to question WeChat’s owner Tencent in its other businesses.

SEE ALSO: China would rather shut TikTok down than sell it

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TikTok is suing Trump

Citing violation of free speech and due process

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Late last week, President Donald Trump issued a final directive against TikTok’s Chinese operations in the United States. Starting late Sunday, Apple and Google will forcibly pull the popular platform out of their respective app stores. TikTok doesn’t have much recourse. To stave off the potential shutdown, TikTok is suing Trump.

Reported by The Wall Street Journal, ByteDance filed an eleventh-hour lawsuit against the administration for violating the right to free speech. Further, the company claims the lack of due process in the impending ban.

Over the past two months, Trump fired off a vicious crusade against TikTok. Back in August, his administration issued a deadline for the platform to either leave the country or find an American buyer.

Since then, Oracle has emerged as the winner for TikTok’s US operations. Over the weekend, Trump has also “given the deal [his] blessing,” as reported by Reuters. With the deal, Oracle will create a new corporation, named TikTok Global, for the platform’s US operations. The upcoming company will recruit American directors and a security consultant on the board.

That said, TikTok’s fate is still up in the air. Whereas TikTok’s strategy will delay the ban, Trump’s erratic moves will force the platform to quickly shift to American control. More news will likely surface after the weekend.

SEE ALSO: China would rather shut TikTok down than sell it

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Trump is now targeting Tencent Games

Investigating Epic Games and Riot Games

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Today, the Trump administration finally administered a coup de grâce against TikTok and WeChat. The government has effectively blocked the popular platforms from app stores nationwide. Now, they are setting their sights on another target. Trump is now targeting Tencent Games.

According to Bloomberg, the Trump administration has officially asked League of Legends’s Riot Studios and Fortnite’s Epic Games for their ties to Tencent Games. Notably, the Chinese Tencent Games owns Riot Games, plus a minority stake in Epic Games.

The Committee on Foreign Investment inquired “about their security protocols in handling Americans’ personal data.” Both League of Legends and Fortnite are still two of the most popular multiplayer games today. Naturally, millions of Americans play these games every day.

Of course, it’s no surprise that the American government is now pursuing Tencent Games for their alleged Chinese ties. WeChat’s ban, in fact, stems from its ties to Tencent. At the time of WeChat’s first involvement in the ongoing ban, pundits also speculated on the eventual attack against Tencent’s other properties. Now, it’s materializing.

At this point, no one knows if Trump’s latest attack will go anywhere. The administration is likely still handling the successful attack against TikTok and WeChat.

SEE ALSO: Oracle wins bid for TikTok’s US operations

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