Neil Hughes
Shares of Apple reached another major financial milestone on Tuesday, crossing the $700 billion market capitalization threshold just after trading began on Wall Street.
With shares of AAPL trading at an all-time high, Apple is more valuable than it has ever been in the eyes of investors. Prior to this month's gains, Apple's previous record market cap was $658 billion reached in September of 2012.
As of Tuesday morning trading, Apple's stock price was already approaching $120 per share, with a market cap of around $702 billion.
To put Apple's market value in perspective, rival Microsoft has a market cap of $394 billion as of Tuesday, while Google is valued at $367 billion. Other notable technology companies include Amazon ($155.24 billion), IBM ($161 billion), and Hewlett-Packard ($71 billion).
Shares of Apple fluctuated around the $100 mark until mid-October when the company reported a record September quarter, earning $8.5 billion in profit on sales of 39 million iPhones and 5.5 million Macs. Investors are bullish on demand for the iPhone 6 and iPhone 6 Plus, and also have high hopes for the debut of the new Apple Watch in early 2015.
Chip Loder
Christine McKee
Malcolm Owen
William Gallagher
AppleInsider Staff
Andrew Orr
Amber Neely
85 Comments
My OCD will not be satisfied until Apple hits one Trillion
Breaking the bank news! "Surreal, but not important" edit: Why is Google thought to be worth $367 billion? What products do they sell (please don't tell me I'm the product; we've been through all that) Do they have software they sell to companies? I know of Map Maker, or whatever it's called. Microsoft I understand. They have a massive market, getting their revenue from subscriptions and only need to write software once, selling it to the world by a simple Cmd-C/Cmd-V. Excuse me, Ctrl-C/Ctrl-V
It's higher than it was yesterday (so far), but it could be higher or lower in minutes, hours or days... Let's not pop the champagne yet, guys.
I knew it! Apple is doomed! Hahaha
My OCD will not be satisfied until Apple hits one Trillion
I love to ask Siri what Apple's market cap is. Last night, hearing her say "Six hundred ninety-six billion dollars" put a huge grin on my face.