Wednesday, 26 November 2014 05:37

Apple market cap hits US$700 billion Featured

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Apple is well on the way to becoming the world’s first trillion dollar company, as its market capitalisation breaks the US$700 million mark.

It is the first company to reach that mark, and his well ahead of the world’s second most valuable company Exxon on US$403 billion. Third is Microsoft, on US$394 billion. Put it another way, Apple is worth more than Microsoft, Amazon, Netflix and Twitter combined. It is worth more than the entire Russian stock market.

Apple’s remarkable valuation is based on its rampant share price, which reached a record US$119.40 on Tuesday before dropping back to as low as US$117.45. The stock was as low as US$56 in July 2013.

On these numbers, and with the momentum the company is building during the holiday season, with the iPhone 6 and 6 Plus raging success stories and the Apple Watch not even shipping yet, Apple could easily reach the magic trillion dollar mark in the next few months.

A trillion dollars is so much money it is difficult to conceive. Market value and national ZGDP are two very different things, but at that amount of money Apple is worth the same as the total amount of money generated by the South Korean economy in a year, or half that of ASEAN.

US financial analysts are bullish on Apple, believing it can go higher and easily achieve the trillion dollar figure. Who can doubt them?

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Graeme Philipson

Graeme Philipson is senior associate editor at iTWire. He is one of Australia’s longest serving and most experienced IT journalists. He is author of the only definitive history of the Australian IT industry, ‘A Vision Splendid: The History of Australian Computing.’

He has been in the high tech industry for more than 30 years, most of that time as a market researcher, analyst and journalist. He was founding editor of MIS magazine, and is a former editor of Computerworld Australia. He was a research director for Gartner Asia Pacific and research manager for the Yankee Group Australia. He was a long time weekly IT columnist in The Age and The Sydney Morning Herald, and is a recipient of the Kester Award for lifetime achievement in IT journalism.

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