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.
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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.