Amazing Apple

Last week, Apple became the first US firm to surpass $1 trillion in value. In 2007, PetroChina first hit this milestone; it’s now worth $200 billion. There is little doubt that Apple, along with Amazon, Alphabet, and Microsoft, (each worth over $800 billion) and other such superstar firms like Facebook are hurting labor productivity growth by killing competition and restraining economy wide investment in research and development.