Technology giant Apple has recorded its best ever quarterly performance as its shares rose by more than 5% to over $200 per share.

Apple is already the world’s most valuable company, with Amazon, Microsoft and the parent company of Google, ‘Alphabet’, closely trailing.

If the share price reaches somewhere around $207 per share, Apple will become the first US company to achieve a trillion dollar valuation.

Apple CEO Tim Cook attributes the stellar performance, in large part, to sales of the iPhone X. The flagship smartphone is the company’s most expensive phone to date and, despite just a 1% growth in shipments, strong demand for the most expensive handsets has boosted quarterly revenue figures.

However, maintaining enough momentum to achieve the trillion dollar valuation could be tricky, in light of heightening trade tensions between the US and China, and the looming threat of new tariffs which could stifle global economic growth.