It’s surreal to think that the same company that was roughly 90 days from going bankrupt back in 1997, is now considered the most valuable company in the world. Even more surreal is the fact that Microsoft was one of the companies that helped boost credibility back into Apple as part of Steve Jobs’ turn around plan, and that now Apple is worth more than both Microsoft and Google combined. Apple’s stock is on a rise after certain records were broken yesterday, and the numbers are just crazy.
Apple became the first US company in history to close stock market trading with $700 billion in market cap. This has resulted in a positive spike in Apple’s stock, with shares worth $124.20 at the time that we finished writing this post, and that results in a crazy $723.4 billion in market cap, again, at the time of the writing of this post. Just to give you an idea, Apple’s shares have grown 48% since the start of 2014. Tim Cook was recently interviewed over this new broken record, and to his satisfaction he’s also added how much the Chinese market has contributed to this growth. According to Apple’s CEO, the Chinese market has grown from a $1 billion market, to a $38 billion market over the last five years. Obviously the positive quarter results that we discussed a few weeks ago also contributed to these new records becoming a reality.
Not bad for a tech company that barely produces a couple of phones, tablets, computers, accessories and software. Let’s see how Apple’s results behave with the launch of products like the Apple Watch.
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