Apple inches closer to becoming first $1 trillion company

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Apple is on the verge of becoming the first American company to reach a market value of $1 trillion. (AP Photo/Richard Drew, File)

Apple is on the verge of becoming the first American company to reach a market value of $1 trillion.

Apple's stock rose 13-percent this month, thanks to a better than expected earnings report. It's market value increased even more after Warren Buffet announced he bought 75 million additional Apple shares in the first quarter.

The company hit an all-time high on Monday with a value of about $940 billion.

By comparison, Alphabet, Google's parent company, is worth about $750 billion. Facebook is around $515 billion.

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