Apple may soon become world's first trillion dollar company

Technology giant Apple leads the race among other global enterprises to become the world's first trillion-dollar company.

According to The Guardian, financial commentators and investors have predicted that 2018 will herald the first firm with a stock market valuation of $1 trillion or more if technology share prices continue to rise as they did in 2017.

Apple presently leads the race with a market valuation of $869 billion on Tuesday.

The company is currently ahead of Google's parent company Alphabet, which has a market value of $729 billion.

Moreover, the firm which transformed mobile communications with the iPhone would require a 15 per cent increase in its share price to tip over $1 trillion.

Apple's share prices increased by 47 per cent last year.

Microsoft, Google, Facebook, Amazon, and Tencent are other leading contenders.