Apple inches closer to becoming first $1 trillion company

CUPERTINO, Calif. (KGO) -- 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.

VIDEO: The history of Apple
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From the Apple I to the iMac to the Apple Watch, here is a look at Apple's history.

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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